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Metersbonwe Q1 profit climbs 74.3% YOY

Shanghai Metersbonwe Fashion & Accessories Co. Ltd. said its normalized net income for the first quarter amounted to 4 fen per share, an increase from 1 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 92.3 million yuan, an increase of 74.3% from 53.0 million yuan in the year-earlier period.

The normalized profit margin rose to 4.9% from 3.0% in the year-earlier period.

Total revenue increased 9.6% year over year to 1.92 billion yuan from 1.75 billion yuan, and total operating expenses grew 6.3% on an annual basis to 1.75 billion yuan from 1.64 billion yuan.

Reported net income increased 32.4% on an annual basis to 51.4 million yuan, or 2 fen per share, from 38.8 million yuan, or 1 fen per share.

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