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Beijing Hualian Department Store Q1 profit climbs YOY

Beijing Hualian Department Store Co. Ltd. said its normalized net income for the first quarter was 12.1 million yuan, an increase from 4.3 million yuan in the year-earlier period.

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

The normalized profit margin rose to 3.3% from 1.4% in the year-earlier period.

Total revenue increased 18.6% on an annual basis to 377.7 million yuan from 318.5 million yuan, and total operating expenses climbed 20.9% from the prior-year period to 297.5 million yuan from 246.0 million yuan.

Reported net income rose 76.6% from the prior-year period to 12.5 million yuan, or 1 fen per share, from 7.1 million yuan, or 0 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.