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Kemen Noodle Manufacturing Q2 profit climbs 28.3% YOY

Kemen Noodle Manufacturing Co.Ltd said its second-quarter normalized net income was 8 fen per share, an increase of 22.0% from 7 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 21.3 million yuan, an increase of 28.3% from 16.6 million yuan in the year-earlier period.

The normalized profit margin rose to 5.4% from 4.7% in the year-earlier period.

Total revenue climbed 13.6% year over year to 402.5 million yuan from 354.2 million yuan, and total operating expenses rose 9.5% on an annual basis to 367.5 million yuan from 335.5 million yuan.

Reported net income increased 30.8% year over year to 27.4 million yuan, or 10 fen per share, from 20.9 million yuan, or 8 fen per share.

As of Aug. 20, US$1 was equivalent to 6.39 yuan.