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Beijing Urban-Rural Trade Centre Q1 profit falls YOY

Beijing Urban-Rural Trade Centre Co. Ltd. said its first-quarter normalized net income amounted to 8 fen per share, a decline of 10.7% from 9 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 25.5 million yuan, a decline of 10.7% from 28.5 million yuan in the prior-year period.

The normalized profit margin rose to 4.2% from 3.9% in the year-earlier period.

Total revenue decreased 14.9% year over year to 616.5 million yuan from 724.2 million yuan, and total operating expenses decreased 14.6% year over year to 582.7 million yuan from 682.3 million yuan.

Reported net income declined 8.6% from the prior-year period to 28.7 million yuan, or 9 fen per share, from 31.4 million yuan, or 10 fen per share.

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