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Cacola Furniture International swings to profit in Q1

Cacola Furniture International Ltd said its normalized net income for the first quarter was 730,630 yuan, compared with a loss of 1.5 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.7% from negative 26.2% in the year-earlier period.

Total revenue climbed on an annual basis to 15.6 million yuan from 5.6 million yuan, and total operating expenses increased 85.4% from the prior-year period to 14.5 million yuan from 7.8 million yuan.

Reported net income came to 611,000 yuan, or 0 fen per share, compared to a loss of 2.3 million yuan, or a loss of 0 fen per share, in the prior-year period.

As of May 2, US$1 was equivalent to 6.47 yuan.