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Emei Shan Tourism profit misses consensus by 29.5% in Q1

Emei Shan Tourism Co. Ltd. said its first-quarter normalized net income amounted to 2.7 million yuan, a decrease of 63.9% from 7.5 million yuan in the year-earlier period.

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

The normalized profit margin dropped to 1.3% from 4.0% in the year-earlier period.

Total revenue rose 13.1% on an annual basis to 211.5 million yuan from 187.0 million yuan, and total operating expenses climbed 17.7% year over year to 205.2 million yuan from 174.4 million yuan.

Reported net income declined 73.7% from the prior-year period to 2.6 million yuan, or 1 fen per share, from 9.9 million yuan, or 2 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.