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Wuhan Sante Cableway Q2 loss widens YOY

Wuhan Sante Cableway Group Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 3 fen per share, compared with a loss of 1 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 a loss of 4.6 million yuan, compared with a loss of 1.8 million yuan in the prior-year period.

The normalized profit margin fell to negative 5.6% from negative 1.7% in the year-earlier period.

Total revenue increased 8.1% on an annual basis to 109.6 million yuan from 101.4 million yuan, and total operating expenses increased 7.4% from the prior-year period to 90.7 million yuan from 84.5 million yuan.

Reported net income came to a loss of 11.5 million yuan, or a loss of 8 fen per share, compared to a loss of 8.3 million yuan, or a loss of 6 fen per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 6.64 yuan.