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Shandong Minhe Animal Husbandry Q1 loss widens YOY

Shandong Minhe Animal Husbandry Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 9 fen per share, compared with a loss of 8 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 a loss of 26.1 million yuan, compared with a loss of 25.5 million yuan in the prior-year period.

The normalized profit margin dropped to negative 11.6% from negative 11.1% in the year-earlier period.

Total revenue decreased on an annual basis to 223.6 million yuan from 228.7 million yuan, and total operating expenses fell from the prior-year period to 253.2 million yuan from 258.0 million yuan.

Reported net income came to a loss of 41.8 million yuan, or a loss of 14 fen per share, compared to a loss of 39.9 million yuan, or a loss of 13 fen per share, in the year-earlier period.

As of April 21, US$1 was equivalent to 6.20 yuan.