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Wuxi Commercial Mansion Grand Orient Q2 profit climbs 31.1% YOY

Wuxi Commercial Mansion Grand Orient Co. Ltd. said its second-quarter normalized net income came to 9 fen per share, a gain of 30.9% 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 49.5 million yuan, an increase of 31.1% from 37.8 million yuan in the year-earlier period.

The normalized profit margin rose to 2.6% from 2.0% in the year-earlier period.

Total revenue rose 5.2% year over year to 2.01 billion yuan from 1.91 billion yuan, and total operating expenses grew 5.5% year over year to 1.95 billion yuan from 1.85 billion yuan.

Reported net income rose 28.9% on an annual basis to 63.3 million yuan, or 12 fen per share, from 49.1 million yuan, or 9 fen per share.

As of Aug. 22, US$1 was equivalent to 6.64 yuan.