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Wuhan Sante Cableway Q1 loss narrows YOY

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Wuhan Sante Cableway Q1 loss narrows YOY

Wuhan Sante Cableway Group Co. Ltd. said its first-quarter normalized net income was a loss of 5 fen per share, compared with a loss of 8 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 a loss of 7.0 million yuan, compared with a loss of 8.9 million yuan in the prior-year period.

The normalized profit margin climbed to negative 9.3% from negative 14.5% in the year-earlier period.

Total revenue increased 14.6% year over year to 70.5 million yuan from 61.5 million yuan, and total operating expenses grew 7.7% on an annual basis to 75.2 million yuan from 69.8 million yuan.

Reported net income totaled a loss of 21.0 million yuan, or a loss of 15 fen per share, compared to a loss of 25.9 million yuan, or a loss of 22 fen per share, in the prior-year period.

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