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Xilinmen Furniture Q1 profit falls YOY

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Xilinmen Furniture Q1 profit falls YOY

Xilinmen Furniture Co. Ltd. said its first-quarter normalized net income was 5 fen per share, a decline of 10.4% from 5 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 14.3 million yuan, a decrease of 13.3% from 16.5 million yuan in the prior-year period.

The normalized profit margin declined to 4.8% from 6.6% in the year-earlier period.

Total revenue increased 21.1% year over year to 302.2 million yuan from 249.5 million yuan, and total operating expenses climbed 22.9% year over year to 275.2 million yuan from 223.9 million yuan.

Reported net income grew 10.6% year over year to 24.4 million yuan, or 8 fen per share, from 22.1 million yuan, or 7 fen per share.

As of April 20, US$1 was equivalent to 6.20 yuan.