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Shandong Xiantan Q1 profit climbs 20.0% YOY

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Shandong Xiantan Q1 profit climbs 20.0% YOY

Shandong Xiantan Co. Ltd. said its first-quarter normalized net income amounted to 3 fen per share, an increase of 42.7% from 2 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 3.8 million yuan, an increase of 20.0% from 3.1 million yuan in the prior-year period.

The normalized profit margin increased to 1.2% from 0.9% in the year-earlier period.

Total revenue increased 19.1% on an annual basis to 427.0 million yuan from 358.4 million yuan, and total operating expenses rose 19.0% year over year to 418.9 million yuan from 351.9 million yuan.

Reported net income totaled 2.4 million yuan, or 2 fen per share, compared to 2.9 million yuan, or 2 fen per share, in the year-earlier period.

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