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Sanquan Food Q1 profit climbs 8.4% YOY

Sanquan Food Co. Ltd. said its normalized net income for the first quarter came to 3 fen per share, an increase of 17.8% from 3 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 22.6 million yuan, an increase of 8.4% from 20.9 million yuan in the year-earlier period.

The normalized profit margin climbed to 1.6% from 1.5% in the year-earlier period.

Total revenue rose year over year to 1.41 billion yuan from 1.38 billion yuan, and total operating expenses climbed year over year to 1.38 billion yuan from 1.35 billion yuan.

Reported net income totaled 26.5 million yuan, or 4 fen per share, compared to 28.8 million yuan, or 4 fen per share, in the prior-year period.

As of April 28, US$1 was equivalent to 6.20 yuan.