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Yantai Shuangta Food Q4 profit falls YOY

Yantai Shuangta Food Co.Ltd. said its fourth-quarter normalized net income was 1 fen per share, a decline of 41.7% from 2 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 14.8 million yuan, a decrease of 33.8% from 22.4 million yuan in the year-earlier period.

The normalized profit margin declined to 4.2% from 9.2% in the year-earlier period.

Total revenue climbed 44.6% year over year to 352.6 million yuan from 244.0 million yuan, and total operating expenses rose 64.7% on an annual basis to 329.7 million yuan from 200.1 million yuan.

Reported net income decreased 37.5% from the prior-year period to 23.1 million yuan, or 2 fen per share, from 37.0 million yuan, or 3 fen per share.

For the year, the company's normalized net income totaled 11 fen per share, a gain of 15.0% from 9 fen per share in the prior year.

Normalized net income was 138.0 million yuan, a rise of 33.5% from 103.3 million yuan in the prior year.

Full-year total revenue increased 16.7% from the prior-year period to 1.24 billion yuan from 1.07 billion yuan, and total operating expenses increased 17.3% on an annual basis to 1.03 billion yuan from 880.6 million yuan.

The company said reported net income increased 28.1% year over year to 190.6 million yuan, or 15 fen per share, in the full year, from 148.8 million yuan, or 14 fen per share.

As of April 15, US$1 was equivalent to 6.47 yuan.