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Xinjiang Guannong Fruit & Antler Q2 profit falls YOY

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Xinjiang Guannong Fruit & Antler Q2 profit falls YOY

Xinjiang Guannong Fruit & Antler Group Co.Ltd. said its second-quarter normalized net income amounted to 3 fen per share, a decline of 42.4% from 6 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.3 million yuan, a decrease of 37.6% from 42.2 million yuan in the year-earlier period.

The normalized profit margin dropped to 6.2% from 47.6% in the year-earlier period.

Total revenue climbed year over year to 460.2 million yuan from 88.7 million yuan, and total operating expenses increased on an annual basis to 455.0 million yuan from 95.5 million yuan.

Reported net income fell 21.9% on an annual basis to 47.1 million yuan, or 6 fen per share, from 60.2 million yuan, or 8 fen per share.

As of Aug. 14, US$1 was equivalent to 6.40 yuan.