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Anhui Jiuhuashan Tourism Development Q1 profit climbs 80.2% YOY

Anhui Jiuhuashan Tourism Development Co. Ltd. said its normalized net income for the first quarter came to 21 fen per share, an increase of 35.2% from 15 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 23.1 million yuan, an increase of 80.2% from 12.8 million yuan in the prior-year period.

The normalized profit margin climbed to 21.8% from 14.2% in the year-earlier period.

Total revenue grew 22.1% on an annual basis to 110.5 million yuan from 90.5 million yuan, and total operating expenses rose 10.5% on an annual basis to 73.5 million yuan from 66.5 million yuan.

Reported net income rose 84.8% on an annual basis to 26.9 million yuan, or 24 fen per share, from 14.6 million yuan, or 18 fen per share.

As of April 14, US$1 was equivalent to 6.49 yuan.