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Zhejiang Hangmin Q1 profit climbs 23.6% YOY

4912625 said its normalized net income for the first quarter came to 9 fen per share, an increase of 24.2% from 7 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 58.2 million yuan, an increase of 23.6% from 47.1 million yuan in the year-earlier period.

The normalized profit margin rose to 9.7% from 7.2% in the year-earlier period.

Total revenue fell 7.6% on an annual basis to 600.6 million yuan from 650.3 million yuan, and total operating expenses declined 12.8% from the prior-year period to 486.9 million yuan from 558.1 million yuan.

Reported net income increased 24.9% on an annual basis to 77.9 million yuan, or 12 fen per share, from 62.4 million yuan, or 10 fen per share.

s of April 20, US$1 was equivalent to 6.20 yuan.Zhejiang Hangmin Co. Ltd

4912625 said its normalized net income for the first quarter came to 9 fen per share, an increase of 24.2% from 7 fen per share in the year-earlier period.