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Sunvim Group Q1 profit climbs 25.6% YOY

Sunvim Group Co. Ltd. said its first-quarter normalized net income came to 9 fen per share, a gain of 29.5% from 7 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 80.7 million yuan, a gain of 25.6% from 64.3 million yuan in the year-earlier period.

The normalized profit margin rose to 7.3% from 5.7% in the year-earlier period.

Total revenue fell on an annual basis to 1.10 billion yuan from 1.12 billion yuan, and total operating expenses declined from the prior-year period to 943.7 million yuan from 988.5 million yuan.

Reported net income grew 27.1% on an annual basis to 95.2 million yuan, or 10 fen per share, from 74.9 million yuan, or 8 fen per share.

As of April 15, US$1 was equivalent to 6.47 yuan.