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Yamada Green Resources fiscal Q1 profit climbs YOY

Yamada Green Resources Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 4 fen per share, an increase from 1 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 4.6 million yuan, an increase from 1.1 million yuan in the prior-year period.

The normalized profit margin rose to 8.2% from 2.7% in the year-earlier period.

Total revenue increased 39.5% on an annual basis to 56.0 million yuan from 40.1 million yuan, and total operating expenses rose 24.9% year over year to 47.8 million yuan from 38.3 million yuan.

Reported net income grew from the prior-year period to 4.7 million yuan, or 5 fen per share, from 510,030 yuan, or 1 fen per share.

As of Oct. 30, US$1 was equivalent to 6.11 yuan.