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Zhang Jia Jie Tourism swings to profit in Q1

Zhang Jia Jie Tourism Group Co. Ltd said its normalized net income for the first quarter amounted to 3.2 million yuan, compared with a loss of 2.3 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 3.6% from negative 3.5% in the year-earlier period.

Total revenue increased 35.3% on an annual basis to 90.9 million yuan from 67.2 million yuan, and total operating expenses rose 21.9% from the prior-year period to 84.0 million yuan from 68.9 million yuan.

Reported net income totaled 1.9 million yuan, or 1 fen per share, compared to a loss of 4.1 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of April 21, US$1 was equivalent to 6.48 yuan.