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Wuhan Hanshang Q1 profit climbs 46.7% YOY

Wuhan Hanshang Group Co. Ltd. said its first-quarter normalized net income was 3 fen per share, a gain of 43.9% 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 6.0 million yuan, a gain of 46.7% from 4.1 million yuan in the prior-year period.

The normalized profit margin increased to 2.2% from 1.6% in the year-earlier period.

Total revenue grew on an annual basis to 267.4 million yuan from 261.5 million yuan, and total operating expenses grew on an annual basis to 255.4 million yuan from 252.1 million yuan.

Reported net income rose from the prior-year period to 5.7 million yuan, or 3 fen per share, from 1.9 million yuan, or 1 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.