China Mobile Games and Entertainment Group Q2 Net

GUANGDONG, Oct 26, 2012 (SinoCast Daily Business Beat via COMTEX) -- China Mobile Games and Entertainment Group (CMGE) received net profit of CNY 23.4 million (abut USD 3.7 million) in the second quarter of 2012, up 68.6% year on year and 24.4% quarter on quarter.

The operating revenue in the period totaled CNY 60.7 million (about USD 9.6 million), down 3.2% year on year but up 11.8% quarter on quarter. The operating cost reached CNY 24 million (about USD 3.8 million) in the second quarter, slipping 8.3% year on year and 1.2% quarter on quarter. The decline was mainly caused by the slip in the costs of components and parts due to decreased sales from mobile phone design service. Therefore, the gross profit margin of the company increased from 55.2% in the first quarter of 2012 to 60.4% in the reporting period, versus 58.2% reported in the second quarter of 2011.

The company held cash and cash equivalents of CNY 199.6 million (about USD 31.4 million) and net operating cash flow of CNY 22.3 million (about USD 3.5 million) by June 30, 2012.