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Fortune Ng Fung Food (Hebei) Q1 profit climbs 29.1% YOY

Fortune Ng Fung Food (Hebei) Co. Ltd. said its first-quarter normalized net income amounted to 3 fen per share, an increase of 29.1% from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.8 million yuan, an increase of 29.1% from 13.0 million yuan in the prior-year period.

The normalized profit margin climbed to 9.8% from 5.0% in the year-earlier period.

Total revenue increased 15.7% year over year to 299.7 million yuan from 258.9 million yuan, and total operating expenses increased 13.4% from the prior-year period to 270.9 million yuan from 238.8 million yuan.

Reported net income grew 21.2% year over year to 21.8 million yuan, or 4 fen per share, from 18.0 million yuan, or 3 fen per share.

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