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Wuhan Department Store Q1 profit climbs 5.2% YOY

Wuhan Department Store Group Co. Ltd. said its normalized net income for the first quarter was 32 fen per share, an increase of 4.9% from 30 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 208.1 million yuan, an increase of 5.2% from 197.8 million yuan in the year-earlier period.

The normalized profit margin rose to 4.3% from 4.2% in the year-earlier period.

Total revenue rose year over year to 4.89 billion yuan from 4.69 billion yuan, and total operating expenses grew from the prior-year period to 4.54 billion yuan from 4.37 billion yuan.

Reported net income grew 21.3% year over year to 262.0 million yuan, or 40 fen per share, from 216.0 million yuan, or 33 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.