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Anji Foodstuff Q2 profit falls YOY

Anji Foodstuff Co. Ltd. said its normalized net income for the second quarter was 6 fen per share, a decrease of 47.1% from 11 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 7.3 million yuan, a decrease of 24.1% from 9.6 million yuan in the year-earlier period.

The normalized profit margin dropped to 10.4% from 14.1% in the year-earlier period.

Total revenue grew on an annual basis to 70.7 million yuan from 68.2 million yuan, and total operating expenses climbed 11.7% year over year to 60.1 million yuan from 53.8 million yuan.

Reported net income decreased 23.9% on an annual basis to 10.1 million yuan, or 8 fen per share, from 13.2 million yuan, or 15 fen per share.

As of Aug. 23, US$1 was equivalent to 6.64 yuan.