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Hebei Hengshui Laobaigan Liquor Q1 profit falls YOY

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Hebei Hengshui Laobaigan Liquor Q1 profit falls YOY

Hebei Hengshui Laobaigan Liquor Co. Ltd. said its first-quarter normalized net income amounted to 5 fen per share, an increase from 5 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 18.1 million yuan, a decline from 18.6 million yuan in the year-earlier period.

The normalized profit margin declined to 2.9% from 4.2% in the year-earlier period.

Total revenue climbed 37.5% on an annual basis to 613.0 million yuan from 445.7 million yuan, and total operating expenses increased 39.5% year over year to 580.0 million yuan from 415.7 million yuan.

Reported net income grew 39.6% on an annual basis to 21.8 million yuan, or 6 fen per share, from 15.6 million yuan, or 4 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.