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.
