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Wuxi Little Swan Q1 profit climbs 31.0% YOY

Wuxi Little Swan Co. Ltd. said its normalized net income for the first quarter amounted to 27 fen per share, an increase of 30.0% from 21 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 175.2 million yuan, an increase of 31.0% from 133.7 million yuan in the prior-year period.

The normalized profit margin rose to 5.3% from 5.2% in the year-earlier period.

Total revenue rose 27.9% on an annual basis to 3.29 billion yuan from 2.58 billion yuan, and total operating expenses rose 27.0% year over year to 3.00 billion yuan from 2.37 billion yuan.

Reported net income rose 41.9% on an annual basis to 242.3 million yuan, or 38 fen per share, from 170.8 million yuan, or 27 fen per share.

As of April 21, US$1 was equivalent to 6.20 yuan.