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China International Travel Service Q1 profit climbs 21.4% YOY

China International Travel Service Corp. Ltd said its first-quarter normalized net income was 27 fen per share, compared with the S&P Capital IQ consensus estimate of 31 fen per share.

EPS rose 21.4% year over year from 22 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 520.7 million yuan, an increase of 21.4% from 428.9 million yuan in the year-earlier period.

The normalized profit margin increased to 10.4% from 9.7% in the year-earlier period.

Total revenue rose 13.4% on an annual basis to 5.00 billion yuan from 4.40 billion yuan, and total operating expenses grew 11.8% year over year to 4.12 billion yuan from 3.69 billion yuan.

Reported net income rose 21.3% on an annual basis to 646.0 million yuan, or 33 fen per share, from 532.6 million yuan, or 27 fen per share.

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