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Ellassay Fashion Q1 profit falls YOY

Shenzhen Ellassay Fashion Co. Ltd. said its normalized net income for the first quarter was 13 fen per share, a decrease of 21.6% from 16 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 29.6 million yuan, a decrease of 21.6% from 37.8 million yuan in the year-earlier period.

The normalized profit margin declined to 16.5% from 21.6% in the year-earlier period.

Total revenue climbed on an annual basis to 179.1 million yuan from 174.7 million yuan, and total operating expenses rose 15.9% year over year to 132.9 million yuan from 114.7 million yuan.

Reported net income came to 33.8 million yuan, or 14 fen per share, compared to 33.4 million yuan, or 14 fen per share, in the prior-year period.

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