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Inzone Group Q1 profit falls YOY

Inzone Group Co. Ltd. said its normalized net income for the first quarter was 20 fen per share, a decline of 22.7% from 25 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 102.2 million yuan, a decline of 22.7% from 132.2 million yuan in the prior-year period.

The normalized profit margin fell to 2.5% from 3.3% in the year-earlier period.

Total revenue totaled 4.06 billion yuan, compared with 4.03 billion yuan in the year-earlier period, and total operating expenses grew year over year to 3.85 billion yuan from 3.78 billion yuan.

Reported net income decreased 21.0% on an annual basis to 109.8 million yuan, or 21 fen per share, from 139.1 million yuan, or 27 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.