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Zhejiang Giuseppe Garment Q1 profit falls YOY

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Zhejiang Giuseppe Garment Q1 profit falls YOY

Zhejiang Giuseppe Garment Co. Ltd. said its first-quarter normalized net income came to 3 fen per share, an increase from 3 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 11.4 million yuan, a decline from 11.9 million yuan in the prior-year period.

The normalized profit margin fell to 8.4% from 9.6% in the year-earlier period.

Total revenue climbed 10.9% year over year to 136.7 million yuan from 123.2 million yuan, and total operating expenses increased 11.6% year over year to 121.2 million yuan from 108.6 million yuan.

Reported net income totaled 9.1 million yuan, or 3 fen per share, compared to 9.8 million yuan, or 3 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.