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Nanjing Central Emporium Q2 profit falls YOY

Nanjing Central Emporium (Group) Stocks Co. Ltd. said its second-quarter normalized net income came to 3 fen per share, a decline of 41.3% from 5 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 36.9 million yuan, a decrease of 41.6% from 63.3 million yuan in the prior-year period.

The normalized profit margin dropped to 2.7% from 4.1% in the year-earlier period.

Total revenue decreased 11.8% year over year to 1.35 billion yuan from 1.53 billion yuan, and total operating expenses decreased 10.8% on an annual basis to 1.26 billion yuan from 1.41 billion yuan.

Reported net income decreased 55.1% year over year to 32.3 million yuan, or 3 fen per share, from 71.9 million yuan, or 6 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.