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Nanfang Black Sesame Q1 profit climbs 12.5% YOY

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Nanfang Black Sesame Q1 profit climbs 12.5% YOY

Nanfang Black Sesame Group Co. Ltd. said its first-quarter normalized net income amounted to 3 fen per share, a gain of 12.3% from 3 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 19.2 million yuan, a gain of 12.5% from 17.1 million yuan in the year-earlier period.

The normalized profit margin declined to 3.8% from 4.6% in the year-earlier period.

Total revenue rose 19.7% year over year to 442.6 million yuan from 369.8 million yuan, and total operating expenses increased 20.0% year over year to 413.2 million yuan from 344.3 million yuan.

Reported net income increased 10.5% year over year to 30.1 million yuan, or 5 fen per share, from 27.2 million yuan, or 4 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.