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Country Style Cooking's profit up 55.1% in Q1

May. 18, 2012 (China Knowledge) - Country Style Cooking Restaurant Chain Co Ltd<CCSC>, a fast food restaurant chain in China, has posted RMB 18.3 million-net profit for the first quarter of this year, reflecting a YoY increase of 55.1% from RMB 11.8 million.

On a non-GAAP basis, the U.S.-listed firm's net profit reached RMB 5 million in the reporting period, less than RMB 14.5 million the first quarter of 2011.

In the three months ended Mar. 31, 2012, the company's diluted earnings per American Depositary Share amount to RMB 0.69, compared with RMB 0.44 in the corresponding period of last year. Non-GAAP earnings per ADS stood at RMB 0.19, less than RMB 0.55 in the first quarter of last year.

Revenue for the period from January to March 2012 increased by 28.1% YoY from RMB 222.6 million to RMB 285.2 million.

Country Style Cooking had RMB 495.1 million in cash as of Mar. 31, 2012, whereas it had RMB 517.5 million at the end of last year.

For the second quarter of 2012, the company expects its revenues to be in the range of RMB 285 million to RMB 295 million, up 22% to 26% from a year earlier.

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