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Guilin Tourism Q1 loss narrows YOY

Guilin Tourism Corp. Ltd. said its normalized net income for the first quarter came to a loss of 2 fen per share, compared with a loss of 4 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 a loss of 7.1 million yuan, compared with a loss of 14.3 million yuan in the prior-year period.

The normalized profit margin rose to negative 7.3% from negative 17.5% in the year-earlier period.

Total revenue grew 18.6% year over year to 97.2 million yuan from 81.9 million yuan, and total operating expenses came to 100.7 million yuan, compared with 99.8 million yuan in the prior-year period.

Reported net income came to a loss of 13.6 million yuan, or a loss of 4 fen per share, compared to a loss of 27.0 million yuan, or a loss of 8 fen per share, in the year-earlier period.

As of April 28, US$1 was equivalent to 6.20 yuan.