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Shanghai Maling Aquarius Q1 profit climbs YOY

Shanghai Maling Aquarius Co. Ltd. said its normalized net income for the first quarter was 3 fen per share, a decline of 10.5% from 3 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 29.2 million yuan, an increase from 28.8 million yuan in the year-earlier period.

The normalized profit margin rose to 1.6% from 1.0% in the year-earlier period.

Total revenue declined 7.5% on an annual basis to 2.58 billion yuan from 2.79 billion yuan, and total operating expenses fell 7.4% from the prior-year period to 2.51 billion yuan from 2.71 billion yuan.

Reported net income totaled 45.1 million yuan, or 5 fen per share, compared to 39.7 million yuan, or 5 fen per share, in the year-earlier period.

As of April 21, US$1 was equivalent to 6.20 yuan.