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Yifeng Pharmacy Chain Q2 profit climbs 28.0% YOY

Yifeng Pharmacy Chain Co. Ltd. said its normalized net income for the second quarter amounted to 11 fen per share, a decrease from 12 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 36.3 million yuan, a gain of 28.0% from 28.4 million yuan in the year-earlier period.

The normalized profit margin rose to 5.7% from 5.2% in the year-earlier period.

Total revenue rose 21.7% year over year to 663.3 million yuan from 545.0 million yuan, and total operating expenses rose 22.0% from the prior-year period to 611.3 million yuan from 501.0 million yuan.

Reported net income grew 32.3% year over year to 46.8 million yuan, or 15 fen per share, from 35.3 million yuan, or 15 fen per share.

As of Aug. 20, US$1 was equivalent to 6.39 yuan.