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Sou Yu Te Fashion Q1 profit climbs 52.3% YOY

Sou Yu Te Group Co. Ltd. said its normalized net income for the first quarter was 2 fen per share, a gain of 46.4% from 1 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 46.5 million yuan, a gain of 52.3% from 30.5 million yuan in the prior-year period.

The normalized profit margin increased to 12.4% from 10.9% in the year-earlier period.

Total revenue climbed 41.6% year over year to 396.0 million yuan from 279.6 million yuan, and total operating expenses grew 34.0% on an annual basis to 318.1 million yuan from 237.3 million yuan.

Reported net income increased 48.0% from the prior-year period to 52.8 million yuan, or 2 fen per share, from 35.7 million yuan, or 1 fen per share.

As of April 13, US$1 was equivalent to 6.22 yuan.