New Hua Du Supercenter Co. Ltd. said its normalized net income for the first quarter was 3 fen per share, a decrease of 56.1% 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 17.2 million yuan, a decrease of 54.5% from 37.8 million yuan in the year-earlier period.
The normalized profit margin dropped to 1.0% from 1.9% in the year-earlier period.
Total revenue declined 9.2% on an annual basis to 1.84 billion yuan from 2.02 billion yuan, and total operating expenses decreased 6.9% on an annual basis to 1.83 billion yuan from 1.97 billion yuan.
Reported net income decreased 61.1% on an annual basis to 17.0 million yuan, or 3 fen per share, from 43.9 million yuan, or 8 fen per share.
As of April 27, US$1 was equivalent to 6.22 yuan.
