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Bros Eastern Q1 profit falls YOY

Bros Eastern Co.Ltd said its first-quarter normalized net income amounted to 6 fen per share, a decline of 7.5% from 6 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 89.7 million yuan, a decrease of 6.9% from 96.4 million yuan in the prior-year period.

The normalized profit margin declined to 8.3% from 9.2% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to 1.12 billion yuan from 1.04 billion yuan, and total operating expenses climbed 7.7% from the prior-year period to 1.01 billion yuan from 941.7 million yuan.

Reported net income increased 15.1% year over year to 120.4 million yuan, or 8 fen per share, from 104.6 million yuan, or 7 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.