Better Life Commercial Chain Share Co. Ltd. said its first-quarter normalized net income came to 19 fen per share, a decline of 20.7% from 24 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 139.8 million yuan, a decrease of 10.8% from 156.8 million yuan in the prior-year period.
The normalized profit margin dropped to 3.2% from 4.3% in the year-earlier period.
Total revenue grew 21.1% on an annual basis to 4.45 billion yuan from 3.67 billion yuan, and total operating expenses climbed 23.2% year over year to 4.22 billion yuan from 3.43 billion yuan.
Reported net income decreased 7.4% year over year to 177.8 million yuan, or 24 fen per share, from 192.0 million yuan, or 29 fen per share.
As of April 28, US$1 was equivalent to 6.20 yuan.
