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Guangdong Haid Q2 profit climbs 19.0% YOY

Guangdong Haid Group Co. Ltd. said its second-quarter normalized net income was 11 fen per share, a gain of 16.9% from 10 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 201.9 million yuan, an increase of 19.0% from 169.6 million yuan in the year-earlier period.

The normalized profit margin increased to 3.4% from 2.9% in the year-earlier period.

Total revenue increased on an annual basis to 6.13 billion yuan from 5.89 billion yuan, and total operating expenses increased from the prior-year period to 5.80 billion yuan from 5.62 billion yuan.

Reported net income increased 41.6% from the prior-year period to 275.4 million yuan, or 16 fen per share, from 194.6 million yuan, or 11 fen per share.

As of July 24, US$1 was equivalent to 6.21 yuan.