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Tibet Tourism Q1 loss widens 75.6% YOY

Tibet Tourism Co. Ltd. said its first-quarter normalized net income came to a loss of 9 fen per share, compared with a loss of 5 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 a loss of 16.5 million yuan, compared with a loss of 9.4 million yuan in the year-earlier period.

Total revenue fell 32.5% year over year to 5.0 million yuan from 7.4 million yuan, and total operating expenses rose 25.0% on an annual basis to 26.7 million yuan from 21.4 million yuan.

Reported net income totaled a loss of 26.5 million yuan, or a loss of 14 fen per share, compared to a loss of 15.4 million yuan, or a loss of 8 fen per share, in the prior-year period.

As of April 29, US$1 was equivalent to 6.20 yuan.