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Jinzi Ham Q1 profit falls YOY

Jinzi Ham Co. Ltd. said its normalized net income for the first quarter amounted to 8.0 million yuan, compared with 8.1 million yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 9.8% from 10.1% in the year-earlier period.

Total revenue climbed on an annual basis to 81.8 million yuan from 80.3 million yuan, and total operating expenses came to 70.8 million yuan, compared with 71.4 million yuan in the year-earlier period.

Reported net income came to 12.1 million yuan, or 1 fen per share, compared to 11.0 million yuan, or 1 fen per share, in the prior-year period.

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