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Xinjiang Tianrun Dairy Q1 profit climbs 28.1% YOY

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Xinjiang Tianrun Dairy Q1 profit climbs 28.1% YOY

Xinjiang Tianrun Dairy Co. Ltd. said its first-quarter normalized net income came to 4 fen per share, an increase of 47.6% from 3 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 3.2 million yuan, a gain of 28.1% from 2.5 million yuan in the year-earlier period.

The normalized profit margin increased to 3.7% from 3.2% in the year-earlier period.

Total revenue grew 11.0% on an annual basis to 85.8 million yuan from 77.3 million yuan, and total operating expenses climbed 6.7% year over year to 79.0 million yuan from 74.0 million yuan.

Reported net income increased 30.2% from the prior-year period to 4.9 million yuan, or 6 fen per share, from 3.8 million yuan, or 4 fen per share.

As of April 22, US$1 was equivalent to 6.19 yuan.