Anji Foodstuff Co. Ltd. said its first-quarter normalized net income was 6 fen per share, a decline of 34.6% from 9 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 6.6 million yuan, a decline of 19.7% from 8.2 million yuan in the prior-year period.

The normalized profit margin declined to 11.8% from 14.6% in the year-earlier period.

Total revenue grew on an annual basis to 57.1 million yuan from 56.5 million yuan, and total operating expenses climbed 5.8% year over year to 47.7 million yuan from 45.1 million yuan.

Reported net income declined 18.0% on an annual basis to 9.1 million yuan, or 8 fen per share, from 11.1 million yuan, or 12 fen per share.

As of April 20, US$1 was equivalent to 6.47 yuan.