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Guangzhou Zhujiang Brewery swings to loss in Q1

4911487 said its first-quarter normalized net income amounted to a loss of 641,250 yuan, compared with income of 3.8 million yuan in the prior-year period.

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

The normalized profit margin climbed to 1.7% from 0.6% in the year-earlier period.

Total revenue fell 9.5% year over year to 580.7 million yuan from 641.3 million yuan, and total operating expenses decreased 9.9% from the prior-year period to 581.8 million yuan from 645.9 million yuan.

Reported net income rose 47.7% on an annual basis to 10.8 million yuan, or 2 fen per share, from 7.3 million yuan, or 1 fen per share.

s of April 21, US$1 was equivalent to 6.48 yuan.Guangzhou Zhujiang Brewery Co. Ltd.

4911487 said its first-quarter normalized net income amounted to a loss of 641,250 yuan, compared with income of 3.8 million yuan in the prior-year period.