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China Eastern Airlines Q1 profit climbs 10.8% YOY

China Eastern Airlines Corp. Ltd. said its first-quarter normalized net income amounted to 14 fen per share, compared with 14 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 2.09 billion yuan, an increase of 10.8% from 1.88 billion yuan in the prior-year period.

The normalized profit margin increased to 8.5% from 8.0% in the year-earlier period.

Total revenue climbed year over year to 24.54 billion yuan from 23.53 billion yuan, and total operating expenses climbed 14.7% from the prior-year period to 23.49 billion yuan from 20.48 billion yuan.

Reported net income grew 8.3% year over year to 2.82 billion yuan, or 19 fen per share, from 2.60 billion yuan, or 20 fen per share.

As of April 27, US$1 was equivalent to 6.89 yuan.