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Konka Group Q1 profit climbs YOY

Konka Group Co. Ltd. said its normalized net income for the first quarter came to 23.6 million yuan, a rise from 11.0 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 climbed to 0.5% from 0.3% in the year-earlier period.

Total revenue rose 12.8% year over year to 4.57 billion yuan from 4.05 billion yuan, and total operating expenses increased 12.2% from the prior-year period to 4.50 billion yuan from 4.01 billion yuan.

Reported net income decreased 18.6% from the prior-year period to 7.8 million yuan, or 0 fen per share, from 9.5 million yuan, or 0 fen per share.

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