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Greenland Resort Q2 profit climbs 82.4% YOY

Greenland Resort Company Ltd said its second-quarter normalized net income was ¥5.62 per share, a gain of 82.4% from ¥3.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥58.1 million, a gain of 82.4% from ¥31.9 million in the prior-year period.

The normalized profit margin increased to 2.8% from 1.6% in the year-earlier period.

Total revenue totaled ¥2.06 billion, compared with ¥2.04 billion in the prior-year period, and total operating expenses fell year over year to ¥1.96 billion from ¥1.98 billion.

Reported net income rose year over year to ¥57.0 million, or ¥5.51 per share, from ¥27.0 million, or ¥2.61 per share.

As of Aug. 14, US$1 was equivalent to ¥124.29.