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Jiangsu Lugang Culture Q1 profit climbs 56.3% YOY

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Jiangsu Lugang Culture Q1 profit climbs 56.3% YOY

Jiangsu Lugang Culture Co. Ltd. said its normalized net income for the first quarter was 7.9 million yuan, an increase of 56.3% from 5.1 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 increased to 1.8% from 1.1% in the year-earlier period.

Total revenue climbed 7.0% on an annual basis to 497.9 million yuan from 465.4 million yuan, and total operating expenses grew 6.1% on an annual basis to 480.8 million yuan from 453.3 million yuan.

Reported net income fell 15.4% on an annual basis to 5.6 million yuan, or 1 fen per share, from 6.6 million yuan, or 1 fen per share.

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