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Brother Enterprises Q1 profit climbs YOY

Brother Enterprises Holding Co. Ltd. said its normalized net income for the first quarter was 8.4 million yuan, a rise from 2.3 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 increased to 4.9% from 1.3% in the year-earlier period.

Total revenue climbed year over year to 184.2 million yuan from 180.7 million yuan, and total operating expenses fell 9.1% on an annual basis to 167.0 million yuan from 183.8 million yuan.

Reported net income rose on an annual basis to 13.0 million yuan, or 3 fen per share, from 3.5 million yuan, or 1 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.