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China Gas Holdings fiscal Q2 profit climbs 90.3% YOY

China Gas Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 25 Hong Kong cents per share, a gain of 85.3% from 14 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$1.28 billion, an increase of 90.3% from HK$673.9 million in the year-earlier period.

The normalized profit margin climbed to 12.3% from 10.2% in the year-earlier period.

Total revenue climbed 58.4% on an annual basis to HK$10.44 billion from HK$6.59 billion, and total operating expenses grew 56.1% on an annual basis to HK$8.46 billion from HK$5.42 billion.

Reported net income grew 100.7% on an annual basis to HK$1.70 billion, or 34 cents per share, from HK$845.8 million, or 17 cents per share.