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Guangzhou Holike Q1 profit climbs 72.4% YOY

Guangzhou Holike Creative Home Co. Ltd. said its normalized net income for the first quarter came to 3.4 million yuan, an increase of 72.4% from 2.0 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 2.2% from 1.5% in the year-earlier period.

Total revenue climbed 21.7% on an annual basis to 159.3 million yuan from 130.9 million yuan, and total operating expenses increased 20.6% year over year to 154.3 million yuan from 128.0 million yuan.

Reported net income increased 80.1% from the prior-year period to 5.1 million yuan, or 2 fen per share, from 2.8 million yuan, or 1 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.