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Zhejiang Red Dragonfly Footwear Q1 profit climbs 15.9% YOY

Zhejiang Red Dragonfly Footwear Co. Ltd. said its first-quarter normalized net income was 20 fen per share, an increase of 17.0% from 17 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 66.8 million yuan, an increase of 15.9% from 57.6 million yuan in the year-earlier period.

The normalized profit margin increased to 8.6% from 8.3% in the year-earlier period.

Total revenue climbed 12.2% on an annual basis to 781.2 million yuan from 696.2 million yuan, and total operating expenses increased 12.0% on an annual basis to 676.4 million yuan from 604.0 million yuan.

Reported net income rose 30.1% from the prior-year period to 71.9 million yuan, or 21 fen per share, from 55.3 million yuan, or 16 fen per share.

As of June 25, US$1 was equivalent to 6.21 yuan.