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China Railway Group Q1 profit climbs 22.7% YOY

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China Railway Group Q1 profit climbs 22.7% YOY

China Railway Group Ltd. said its normalized net income for the first quarter came to 10 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS climbed 13.9% year over year from 9 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.42 billion yuan, an increase of 22.7% from 1.97 billion yuan in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.5% in the year-earlier period.

Total revenue climbed 5.2% on an annual basis to 134.44 billion yuan from 127.82 billion yuan, and total operating expenses increased from the prior-year period to 129.52 billion yuan from 123.78 billion yuan.

Reported net income increased 15.3% from the prior-year period to 2.62 billion yuan, or 11 fen per share, from 2.27 billion yuan, or 10 fen per share.

As of April 28, US$1 was equivalent to 6.90 yuan.