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Wuliangye Yibin Q1 profit climbs 23.4% YOY

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Wuliangye Yibin Q1 profit climbs 23.4% YOY

Wuliangye Yibin Co. Ltd. said its first-quarter normalized net income amounted to 78 fen per share, compared with the S&P Capital IQ consensus estimate of 87 fen per share.

EPS increased 23.5% year over year from 63 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.95 billion yuan, an increase of 23.4% from 2.39 billion yuan in the year-earlier period.

The normalized profit margin rose to 29.0% from 27.1% in the year-earlier period.

Total revenue grew 15.1% on an annual basis to 10.16 billion yuan from 8.83 billion yuan, and total operating expenses rose 7.8% year over year to 5.44 billion yuan from 5.04 billion yuan.

Reported net income rose 23.8% on an annual basis to 3.59 billion yuan, or 95 fen per share, from 2.90 billion yuan, or 77 fen per share.

As of April 27, US$1 was equivalent to 6.89 yuan.