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Wangfujing Group profit holds relatively steady YOY in Q1

Wangfujing Group Co. Ltd. said its normalized net income for the first quarter was 32 fen per share, compared with 32 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 194.6 million yuan, compared with 194.5 million yuan in the year-earlier period.

The normalized profit margin climbed to 3.9% from 3.7% in the year-earlier period.

Total revenue fell on an annual basis to 4.98 billion yuan from 5.24 billion yuan, and total operating expenses declined from the prior-year period to 4.71 billion yuan from 4.94 billion yuan.

Reported net income increased from the prior-year period to 225.7 million yuan, or 38 fen per share, from 223.0 million yuan, or 37 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.