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Zhejiang Youpon Integrated Ceiling Q2 profit climbs 15.6% YOY

Zhejiang Youpon Integrated Ceiling Co. Ltd. said its second-quarter normalized net income amounted to 42 fen per share, a gain of 14.4% from 37 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 34.0 million yuan, a gain of 15.6% from 29.4 million yuan in the prior-year period.

The normalized profit margin dropped to 22.9% from 26.8% in the year-earlier period.

Total revenue grew 35.9% year over year to 149.0 million yuan from 109.7 million yuan, and total operating expenses rose 28.5% from the prior-year period to 96.3 million yuan from 74.9 million yuan.

Reported net income increased 15.3% on an annual basis to 46.6 million yuan, or 58 fen per share, from 40.4 million yuan, or 50 fen per share.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.