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Dali Foods Q1 profit climbs 42.2% YOY

Dali Foods Group Company Ltd said its first-quarter normalized net income was 647.3 million yuan, an increase of 42.2% from 455.3 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 climbed to 14.3% from 11.7% in the year-earlier period.

Total revenue grew 16.1% on an annual basis to 4.51 billion yuan from 3.89 billion yuan, and total operating expenses rose 11.0% from the prior-year period to 3.53 billion yuan from 3.18 billion yuan.

Reported net income came to 824.9 million yuan, compared with 547.0 million yuan in the prior-year period.

As of June 17, US$1 was equivalent to 6.21 yuan.