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C&S Paper Q1 profit falls YOY

C&S Paper Co. Ltd. said its first-quarter normalized net income amounted to 2 fen per share, a decline from 2 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 17.2 million yuan, a decrease from 17.9 million yuan in the prior-year period.

The normalized profit margin climbed to 3.3% from 3.3% in the year-earlier period.

Total revenue climbed 12.4% year over year to 603.7 million yuan from 537.2 million yuan, and total operating expenses increased 9.6% on an annual basis to 552.1 million yuan from 503.8 million yuan.

Reported net income grew from the prior-year period to 22.2 million yuan, or 3 fen per share, from 21.2 million yuan, or 3 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.