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Beingmate Baby & Child Food Q1 profit falls YOY

Beingmate Baby & Child Food Co. Ltd. said its first-quarter normalized net income came to 4 fen per share, a decrease of 25.4% from 6 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.1 million yuan, a decline of 26.0% from 54.2 million yuan in the year-earlier period.

The normalized profit margin dropped to 4.5% from 5.0% in the year-earlier period.

Total revenue fell 17.6% year over year to 895.7 million yuan from 1.09 billion yuan, and total operating expenses fell 18.1% year over year to 859.0 million yuan from 1.05 billion yuan.

Reported net income fell 29.2% year over year to 48.6 million yuan, or 5 fen per share, from 68.6 million yuan, or 7 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.