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Beijing Jingkelong Q1 profit falls YOY

Beijing Jingkelong Co. Ltd said its first-quarter normalized net income came to 18.7 million yuan, a decrease of 15.0% from 22.0 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.5% from 0.7% in the year-earlier period.

Total revenue rose 5.3% year over year to 3.51 billion yuan from 3.33 billion yuan, and total operating expenses increased 5.9% from the prior-year period to 3.41 billion yuan from 3.22 billion yuan.

Reported net income came to 20.9 million yuan, compared with 26.9 million yuan in the prior-year period.

As of April 22, US$1 was equivalent to 6.50 yuan.