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Jiangsu Lugang Culture Q2 profit climbs 59.8% YOY

Jiangsu Lugang Culture Co. Ltd. said its normalized net income for the second quarter was 4 fen per share, a gain of 45.0% from 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 33.9 million yuan, a gain of 59.8% from 21.2 million yuan in the prior-year period.

The normalized profit margin climbed to 5.1% from 2.9% in the year-earlier period.

Total revenue came to 744.6 million yuan, compared with 737.6 million yuan in the prior-year period, and total operating expenses decreased from the prior-year period to 669.8 million yuan from 683.7 million yuan.

Reported net income grew 97.2% from the prior-year period to 58.9 million yuan, or 8 fen per share, from 29.8 million yuan, or 4 fen per share.

As of July 21, US$1 was equivalent to 6.21 yuan.