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Pou Sheng International Q1 profit climbs YOY

Pou Sheng International (Holdings) Ltd said its first-quarter normalized net income amounted to $59.4 million, an increase from $24.4 million in the year-earlier period.

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

The normalized profit margin increased to 1.7% from 0.8% in the year-earlier period.

Total revenue rose 23.8% year over year to $3.60 billion from $2.90 billion, and total operating expenses grew 21.7% year over year to $3.47 billion from $2.85 billion.

Reported net income totaled $55.3 million, compared with $696,280 in the year-earlier period.