Hefei Department Store Group Co. Ltd. said its normalized net income for the first quarter was 12 fen per share, a decline of 25.8% 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 90.0 million yuan, a decline of 25.8% from 121.3 million yuan in the prior-year period.
The normalized profit margin fell to 3.1% from 4.0% in the year-earlier period.
Total revenue fell on an annual basis to 3.01 billion yuan from 3.07 billion yuan, and total operating expenses came to 2.85 billion yuan, compared with 2.87 billion yuan in the year-earlier period.
Reported net income decreased 24.5% year over year to 108.7 million yuan, or 14 fen per share, from 143.9 million yuan, or 18 fen per share.
As of April 20, US$1 was equivalent to 6.20 yuan.
