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Leo Group Q1 profit falls YOY

Leo Group Co. Ltd. said its normalized net income for the first quarter amounted to 1 fen per share, a decrease of 25.3% 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 50.4 million yuan, a decline of 21.3% from 64.0 million yuan in the year-earlier period.

The normalized profit margin declined to 5.9% from 14.7% in the year-earlier period.

Total revenue rose 94.8% year over year to 848.3 million yuan from 435.5 million yuan, and total operating expenses climbed 97.2% on an annual basis to 783.0 million yuan from 397.2 million yuan.

Reported net income declined 16.8% year over year to 75.4 million yuan, or 2 fen per share, from 90.5 million yuan, or 2 fen per share.

As of April 28, US$1 was equivalent to 6.20 yuan.