Bros Eastern Co.Ltd said its normalized net income for the first quarter was 5 fen per share, a decrease of 23.4% 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 66.9 million yuan, a decline of 27.8% from 92.6 million yuan in the prior-year period.

The normalized profit margin declined to 6.1% from 8.3% in the year-earlier period.

Total revenue grew on an annual basis to 1.13 billion yuan from 1.12 billion yuan, and total operating expenses came to 1.01 billion yuan, compared with 1.01 billion yuan in the prior-year period.

Reported net income decreased 17.4% from the prior-year period to 99.4 million yuan, or 7 fen per share, from 120.4 million yuan, or 8 fen per share.

As of April 25, US$1 was equivalent to 6.49 yuan.