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Tianjin Pengling Rubber Hose Q1 profit climbs YOY

Tianjin Pengling Rubber Hose Co. Ltd. said its first-quarter normalized net income was 14 fen per share, a decline from 14 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.3 million yuan, compared with 24.2 million yuan in the year-earlier period.

The normalized profit margin increased to 9.3% from 8.9% in the year-earlier period.

Total revenue totaled 272.4 million yuan, compared with 271.8 million yuan in the year-earlier period, and total operating expenses totaled 233.2 million yuan, compared with 233.9 million yuan in the prior-year period.

Reported net income grew 5.6% year over year to 31.2 million yuan, or 18 fen per share, from 29.5 million yuan, or 17 fen per share.

As of April 14, US$1 was equivalent to 6.21 yuan.