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Kweichow Moutai Q1 profit climbs 17.7% YOY

Kweichow Moutai Co. Ltd. said its normalized net income for the first quarter was 2.88 yuan per share, compared with the S&P Capital IQ consensus estimate of 3.16 yuan per share.

EPS climbed 17.7% year over year from 2.44 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.61 billion yuan, a gain of 17.7% from 3.07 billion yuan in the year-earlier period.

The normalized profit margin climbed to 42.3% from 41.2% in the year-earlier period.

Total revenue rose 14.7% on an annual basis to 8.54 billion yuan from 7.45 billion yuan, and total operating expenses rose 12.2% on an annual basis to 2.55 billion yuan from 2.27 billion yuan.

Reported net income increased 17.9% on an annual basis to 4.36 billion yuan, or 3.47 yuan per share, from 3.70 billion yuan, or 2.94 yuan per share.

As of April 20, US$1 was equivalent to 6.20 yuan.