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Shanghai Jinjiang International Travel Q1 profit climbs 28.2% YOY

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Shanghai Jinjiang International Travel Q1 profit climbs 28.2% YOY

Shanghai Jinjiang International Travel Co. Ltd. said its first-quarter normalized net income came to 9 fen per share, a gain of 28.2% from 7 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 11.3 million yuan, an increase of 28.2% from 8.8 million yuan in the prior-year period.

The normalized profit margin climbed to 2.8% from 2.2% in the year-earlier period.

Total revenue fell on an annual basis to 401.2 million yuan from 409.1 million yuan, and total operating expenses decreased year over year to 399.8 million yuan from 406.7 million yuan.

Reported net income rose 28.5% from the prior-year period to 13.9 million yuan, or 10 fen per share, from 10.8 million yuan, or 8 fen per share.

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