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Suofeiya Home Collection Q2 profit climbs 45.7% YOY

Suofeiya Home Collection Co. Ltd. said its second-quarter normalized net income came to 9 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS climbed 46.0% year over year from 6 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 79.5 million yuan, a gain of 45.7% from 54.6 million yuan in the year-earlier period.

The normalized profit margin increased to 11.2% from 10.2% in the year-earlier period.

Total revenue rose 34.3% on an annual basis to 718.6 million yuan from 535.2 million yuan, and total operating expenses rose 32.1% year over year to 593.4 million yuan from 449.0 million yuan.

Reported net income increased 39.9% on an annual basis to 99.2 million yuan, or 11 fen per share, from 70.9 million yuan, or 8 fen per share.

As of Aug. 6, US$1 was equivalent to 6.21 yuan.