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Qiaqia Food Q1 profit climbs 21.3% YOY

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Qiaqia Food Q1 profit climbs 21.3% YOY

Qiaqia Food Co. Ltd. said its normalized net income for the first quarter came to 12 fen per share, a gain of 23.3% from 9 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.7 million yuan, an increase of 21.3% from 48.4 million yuan in the year-earlier period.

The normalized profit margin rose to 7.7% from 7.6% in the year-earlier period.

Total revenue climbed 19.3% year over year to 761.7 million yuan from 638.2 million yuan, and total operating expenses grew 16.9% year over year to 675.9 million yuan from 578.2 million yuan.

Reported net income grew 15.7% from the prior-year period to 67.4 million yuan, or 13 fen per share, from 58.3 million yuan, or 11 fen per share.

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