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Yamada Green Resources fiscal Q2 profit falls YOY

Yamada Green Resources Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 14 fen per share, a decline of 52.9% from 30 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 15.4 million yuan, a decline of 50.4% from 31.0 million yuan in the year-earlier period.

The normalized profit margin fell to 8.7% from 13.3% in the year-earlier period.

Total revenue declined 24.1% year over year to 176.7 million yuan from 232.6 million yuan, and total operating expenses declined 16.7% from the prior-year period to 151.6 million yuan from 182.0 million yuan.

Reported net income decreased 51.5% from the prior-year period to 22.0 million yuan, or 21 fen per share, from 45.4 million yuan, or 45 fen per share.

As of Feb. 12, US$1 was equivalent to 6.25 yuan.