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Xinjiang Talimu Agriculture Development Q1 profit climbs 24.7% YOY

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Xinjiang Talimu Agriculture Development Q1 profit climbs 24.7% YOY

Xinjiang Talimu Agriculture Development Co. Ltd. said its first-quarter normalized net income amounted to 3 fen per share, an increase of 9.1% from 3 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 13.6 million yuan, a gain of 24.7% from 10.9 million yuan in the year-earlier period.

The normalized profit margin increased to 8.2% from 6.6% in the year-earlier period.

Total revenue decreased year over year to 161.4 million yuan from 164.7 million yuan, and total operating expenses declined from the prior-year period to 142.9 million yuan from 148.3 million yuan.

Reported net income grew from the prior-year period to 7.9 million yuan, or 2 fen per share, from 3.5 million yuan, or 1 fen per share.

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