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Zhejiang Century Huatong Q2 profit climbs 64.8% YOY

Zhejiang Century Huatong Group Co.Ltd said its second-quarter normalized net income was 10 fen per share, a gain of 55.9% from 7 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 105.2 million yuan, an increase of 64.8% from 63.8 million yuan in the year-earlier period.

The normalized profit margin rose to 12.1% from 8.4% in the year-earlier period.

Total revenue increased 13.9% year over year to 863.5 million yuan from 758.3 million yuan, and total operating expenses climbed 5.0% from the prior-year period to 689.6 million yuan from 657.1 million yuan.

Reported net income increased 71.1% year over year to 153.3 million yuan, or 15 fen per share, from 89.6 million yuan, or 9 fen per share.

As of Aug. 24, US$1 was equivalent to 6.66 yuan.