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Jiajia Food Q1 profit climbs 20.0% YOY

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Jiajia Food Q1 profit climbs 20.0% YOY

Jiajia Food Group Co. Ltd. said its first-quarter normalized net income came to 4 fen per share, a gain of 19.9% 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 44.7 million yuan, a gain of 20.0% from 37.3 million yuan in the year-earlier period.

The normalized profit margin rose to 9.8% from 8.8% in the year-earlier period.

Total revenue grew 8.1% on an annual basis to 457.5 million yuan from 423.2 million yuan, and total operating expenses rose 6.2% on an annual basis to 390.9 million yuan from 368.0 million yuan.

Reported net income grew 20.2% from the prior-year period to 53.0 million yuan, or 5 fen per share, from 44.1 million yuan, or 4 fen per share.

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