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Xinjiang Winka Times Department Store Q1 profit falls YOY

Xinjiang Winka Times Department Store Co.Ltd. said its first-quarter normalized net income amounted to 9 fen per share, a decrease from 9 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.1 million yuan, a decline from 16.5 million yuan in the prior-year period.

The normalized profit margin rose to 2.2% from 2.1% in the year-earlier period.

Total revenue decreased 9.7% on an annual basis to 724.5 million yuan from 802.4 million yuan, and total operating expenses declined 9.3% from the prior-year period to 689.0 million yuan from 759.7 million yuan.

Reported net income declined year over year to 21.2 million yuan, or 12 fen per share, from 21.5 million yuan, or 12 fen per share.

As of May 4, US$1 was equivalent to 6.50 yuan.