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Jiangsu Yanghe Brewery Q1 profit climbs 11.2% YOY

Jiangsu Yanghe Brewery JSC Ltd. said its normalized net income for the first quarter was 1.23 yuan per share, a gain of 11.2% from 1.11 yuan per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.86 billion yuan, a gain of 11.2% from 1.67 billion yuan in the year-earlier period.

The normalized profit margin rose to 29.7% from 29.5% in the year-earlier period.

Total revenue climbed 10.4% on an annual basis to 6.26 billion yuan from 5.67 billion yuan, and total operating expenses climbed 8.8% from the prior-year period to 3.34 billion yuan from 3.07 billion yuan.

Reported net income increased 11.3% from the prior-year period to 2.23 billion yuan, or 1.48 yuan per share, from 2.00 billion yuan, or 1.33 yuan per share.

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