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NBTM New Materials Q1 profit climbs 19.7% YOY

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NBTM New Materials Q1 profit climbs 19.7% YOY

NBTM New Materials Group Co. Ltd. said its normalized net income for the first quarter came to 6 fen per share, a gain of 5.7% 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 21.7 million yuan, an increase of 19.7% from 18.1 million yuan in the prior-year period.

The normalized profit margin climbed to 6.4% from 6.0% in the year-earlier period.

Total revenue grew 13.1% on an annual basis to 339.8 million yuan from 300.5 million yuan, and total operating expenses rose 14.9% year over year to 299.1 million yuan from 260.3 million yuan.

Reported net income grew 29.5% from the prior-year period to 29.4 million yuan, or 8 fen per share, from 22.7 million yuan, or 7 fen per share.

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