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Jiugui Liquor Q1 profit climbs YOY

Jiugui Liquor Co. Ltd. said its normalized net income for the first quarter was 16.7 million yuan, a gain from 1.5 million yuan in the prior-year period.

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

The normalized profit margin rose to 11.5% from 1.9% in the year-earlier period.

Total revenue climbed 98.0% on an annual basis to 161.2 million yuan from 81.4 million yuan, and total operating expenses rose 36.8% on an annual basis to 140.2 million yuan from 102.4 million yuan.

Reported net income increased on an annual basis to 19.0 million yuan, or 6 fen per share, from 1.6 million yuan, or 1 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.