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China Star Food fiscal Q2 profit climbs 26.3% YOY

China Star Food Group Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 9 fen per share, an increase of 25.7% from 7 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 19.1 million yuan, a gain of 26.3% from 15.1 million yuan in the prior-year period.

The normalized profit margin rose to 18.1% from 17.5% in the year-earlier period.

Total revenue increased 23.1% on an annual basis to 106.6 million yuan from 86.6 million yuan, and total operating expenses grew 23.3% year over year to 76.8 million yuan from 62.3 million yuan.

Reported net income came to a loss of 50.3 million yuan, or a loss of 24 fen per share, compared to income of 18.1 million yuan, or 9 fen per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 6.38 yuan.