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China Quanjude Q1 profit climbs YOY

China Quanjude (Group) Co.,Ltd said its normalized net income for the first quarter was 8 fen per share, a decline from 9 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 25.0 million yuan, a gain from 24.2 million yuan in the year-earlier period.

The normalized profit margin climbed to 5.6% from 5.5% in the year-earlier period.

Total revenue totaled 445.4 million yuan, compared with 441.8 million yuan in the year-earlier period, and total operating expenses came to 403.3 million yuan, compared with 399.5 million yuan in the year-earlier period.

Reported net income grew from the prior-year period to 32.2 million yuan, or 10 fen per share, from 30.9 million yuan, or 11 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.