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Liaoning Cheng Da Q1 profit climbs YOY

Liaoning Cheng Da Co. Ltd. said its first-quarter normalized net income was 24 fen per share, a gain from 10 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 341.9 million yuan, a gain from 135.4 million yuan in the prior-year period.

The normalized profit margin climbed to 22.0% from 6.7% in the year-earlier period.

Total revenue decreased 23.2% on an annual basis to 1.56 billion yuan from 2.03 billion yuan, and total operating expenses fell 23.8% from the prior-year period to 1.46 billion yuan from 1.91 billion yuan.

Reported net income increased on an annual basis to 463.3 million yuan, or 32 fen per share, from 208.1 million yuan, or 15 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.