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Shanghai Xujiahui Commercial Q1 profit climbs YOY

Shanghai Xujiahui Commercial Co. Ltd. said its first-quarter normalized net income amounted to 15 fen per share, compared with 15 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 61.4 million yuan, an increase from 60.5 million yuan in the prior-year period.

The normalized profit margin dropped to 10.6% from 10.8% in the year-earlier period.

Total revenue rose year over year to 581.8 million yuan from 559.2 million yuan, and total operating expenses increased on an annual basis to 485.7 million yuan from 465.0 million yuan.

Reported net income totaled 74.5 million yuan, or 18 fen per share, compared to 73.2 million yuan, or 18 fen per share, in the year-earlier period.

As of April 22, US$1 was equivalent to 6.19 yuan.