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C&S Paper Q2 profit climbs YOY

C&S Paper Co. Ltd. said its normalized net income for the second quarter was 6 fen per share, a gain from 3 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 44.3 million yuan, an increase from 20.7 million yuan in the year-earlier period.

The normalized profit margin increased to 5.0% from 3.0% in the year-earlier period.

Total revenue increased 31.8% on an annual basis to 917.5 million yuan from 695.9 million yuan, and total operating expenses grew 29.4% from the prior-year period to 830.5 million yuan from 642.0 million yuan.

Reported net income increased from the prior-year period to 60.3 million yuan, or 8 fen per share, from 23.5 million yuan, or 3 fen per share.

As of Aug. 9, US$1 was equivalent to 6.65 yuan.