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Markor International Home Furnishings Q1 profit climbs 14.6% YOY

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Markor International Home Furnishings Q1 profit climbs 14.6% YOY

Markor International Home Furnishings Co. Ltd. said its normalized net income for the first quarter was 2 fen per share, a decrease from 2 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 27.6 million yuan, a gain of 14.6% from 24.1 million yuan in the prior-year period.

The normalized profit margin climbed to 4.7% from 4.3% in the year-earlier period.

Total revenue climbed 12.0% year over year to 634.2 million yuan from 566.0 million yuan, and total operating expenses increased 10.3% from the prior-year period to 578.6 million yuan from 524.4 million yuan.

Reported net income increased 41.6% from the prior-year period to 41.6 million yuan, or 3 fen per share, from 29.4 million yuan, or 2 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.