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Xingquan International Sports fiscal Q1 profit climbs 18.8% YOY

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Xingquan International Sports fiscal Q1 profit climbs 18.8% YOY

Xingquan International Sports Holdings Ltd said its normalized net income for the fiscal first quarter ended Sept. 30 was 17 fen per share, a gain of 8.0% 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 57.3 million yuan, a gain of 18.8% from 48.2 million yuan in the year-earlier period.

The normalized profit margin fell to 17.8% from 18.6% in the year-earlier period.

Total revenue rose 24.4% on an annual basis to 321.8 million yuan from 258.8 million yuan, and total operating expenses grew 26.1% year over year to 238.0 million yuan from 188.7 million yuan.

Reported net income grew 18.5% from the prior-year period to 69.8 million yuan, or 21 fen per share, from 58.9 million yuan, or 19 fen per share.

As of Nov. 19, US$1 was equivalent to 6.12 yuan.