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Chongqing Brewery Q1 profit falls YOY

Chongqing Brewery Co.Ltd said its normalized net income for the first quarter was 5 fen per share, a decline of 8.3% from 6 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 25.4 million yuan, a decline of 8.4% from 27.7 million yuan in the prior-year period.

The normalized profit margin fell to 3.6% from 3.9% in the year-earlier period.

Total revenue climbed year over year to 734.0 million yuan from 704.4 million yuan, and total operating expenses grew year over year to 711.9 million yuan from 681.0 million yuan.

Reported net income rose 14.1% from the prior-year period to 25.2 million yuan, or 5 fen per share, from 22.1 million yuan, or 5 fen per share.

As of April 28, US$1 was equivalent to 6.48 yuan.