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Yifeng Pharmacy Chain Q1 profit climbs 27.8% YOY

Yifeng Pharmacy Chain Co. Ltd. said its normalized net income for the first quarter was 13 fen per share, a gain of 14.7% from 12 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 35.8 million yuan, a gain of 27.8% from 28.0 million yuan in the prior-year period.

The normalized profit margin fell to 5.6% from 5.6% in the year-earlier period.

Total revenue grew 28.8% on an annual basis to 639.5 million yuan from 496.4 million yuan, and total operating expenses climbed 28.7% from the prior-year period to 582.3 million yuan from 452.4 million yuan.

Reported net income rose 28.1% from the prior-year period to 41.1 million yuan, or 15 fen per share, from 32.1 million yuan, or 13 fen per share.

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