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China Star Food fiscal Q3 profit falls YOY

China Star Food Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 6 fen per share, a decline of 44.1% 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 13.9 million yuan, a decline of 42.1% from 24.0 million yuan in the year-earlier period.

The normalized profit margin declined to 10.6% from 21.5% in the year-earlier period.

Total revenue grew 17.9% on an annual basis to 131.4 million yuan from 111.5 million yuan, and total operating expenses grew 50.8% year over year to 110.1 million yuan from 73.0 million yuan.

Reported net income declined 43.2% from the prior-year period to 16.9 million yuan, or 8 fen per share, from 29.8 million yuan, or 14 fen per share.

As of Feb. 1, US$1 was equivalent to 6.57 yuan.