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Beijing Sanyuan Foods swings to profit in Q1

Beijing Sanyuan Foods Co. Ltd. said its first-quarter normalized net income amounted to 4.2 million yuan, compared with a loss of 22.8 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 0.6% from negative 2.1% in the year-earlier period.

Total revenue climbed on an annual basis to 1.11 billion yuan from 1.08 billion yuan, and total operating expenses declined year over year to 1.09 billion yuan from 1.12 billion yuan.

Reported net income totaled 6.7 million yuan, or 1 fen per share, compared to a loss of 36.5 million yuan, or a loss of 4 fen per share, in the year-earlier period.

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