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Jiangsu King's Luck Brewery Q1 profit climbs YOY

Jiangsu King's Luck Brewery Joint-Stock Co., Ltd. said its normalized net income for the first quarter came to 18 fen per share, a decrease of 8.6% from 20 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 228.1 million yuan, a gain from 223.8 million yuan in the prior-year period.

The normalized profit margin increased to 26.2% from 26.0% in the year-earlier period.

Total revenue climbed on an annual basis to 873.7 million yuan from 860.6 million yuan, and total operating expenses climbed from the prior-year period to 516.8 million yuan from 508.7 million yuan.

Reported net income increased from the prior-year period to 277.1 million yuan, or 22 fen per share, from 273.1 million yuan, or 24 fen per share.

As of April 30, US$1 was equivalent to 6.20 yuan.