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Heilan Home Q2 profit climbs 51.4% YOY

Heilan Home Co. Ltd. said its second-quarter normalized net income amounted to 14 fen per share, a gain of 51.4% from 9 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 632.0 million yuan, an increase of 51.4% from 417.4 million yuan in the prior-year period.

The normalized profit margin rose to 19.7% from 13.8% in the year-earlier period.

Total revenue grew 11.0% year over year to 3.35 billion yuan from 3.02 billion yuan, and total operating expenses rose 5.6% on an annual basis to 2.36 billion yuan from 2.23 billion yuan.

Reported net income rose 36.9% from the prior-year period to 798.0 million yuan, or 18 fen per share, from 582.8 million yuan, or 13 fen per share.

As of Aug. 11, US$1 was equivalent to 6.32 yuan.