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S.F. Holding Q1 profit falls YOY

S.F. Holding Co. Ltd. said its first-quarter normalized net income came to 15 fen per share, a decrease of 10.3% from 16 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 634.3 million yuan, a decline from 649.9 million yuan in the year-earlier period.

The normalized profit margin fell to 4.1% from 5.3% in the year-earlier period.

Total revenue climbed 25.6% on an annual basis to 15.47 billion yuan from 12.32 billion yuan, and total operating expenses grew 26.9% on an annual basis to 14.37 billion yuan from 11.33 billion yuan.

Reported net income rose 15.2% on an annual basis to 773.7 million yuan, or 18 fen per share, from 671.5 million yuan, or 17 fen per share.

As of April 27, US$1 was equivalent to 6.89 yuan.