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Chongqing Department Store Q1 profit climbs YOY

Chongqing Department Store Co. Ltd. said its first-quarter normalized net income came to 60 fen per share, an increase from 58 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 241.8 million yuan, a gain from 234.0 million yuan in the prior-year period.

The normalized profit margin fell to 2.4% from 2.4% in the year-earlier period.

Total revenue decreased 6.9% on an annual basis to 8.91 billion yuan from 9.57 billion yuan, and total operating expenses declined 7.4% year over year to 8.52 billion yuan from 9.19 billion yuan.

Reported net income increased year over year to 327.5 million yuan, or 81 fen per share, from 316.9 million yuan, or 78 fen per share.

As of April 15, US$1 was equivalent to 6.21 yuan.