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SDIC Zhonglu Fruit Juice Q2 loss narrows YOY

SDIC Zhonglu Fruit Juice Co.Ltd. said its second-quarter normalized net income amounted to a loss of 2 fen per share, compared with a loss of 5 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 a loss of 4.6 million yuan, compared with a loss of 12.7 million yuan in the year-earlier period.

The normalized profit margin rose to negative 2.1% from negative 5.3% in the year-earlier period.

Total revenue fell 11.5% year over year to 211.9 million yuan from 239.3 million yuan, and total operating expenses decreased 16.0% year over year to 206.9 million yuan from 246.2 million yuan.

Reported net income totaled a loss of 6.4 million yuan, or a loss of 2 fen per share, compared to a loss of 23.7 million yuan, or a loss of 9 fen per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.