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Kemen Noodle Manufacturing Q1 profit falls YOY

Kemen Noodle Manufacturing Co. Ltd. said its first-quarter normalized net income came to 8 fen per share, a decline 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 20.2 million yuan, a decrease from 21.2 million yuan in the year-earlier period.

The normalized profit margin dropped to 5.4% from 5.9% in the year-earlier period.

Total revenue climbed 11.7% year over year to 401.0 million yuan from 359.0 million yuan, and total operating expenses grew 12.9% year over year to 370.5 million yuan from 328.0 million yuan.

Reported net income declined 7.6% from the prior-year period to 23.3 million yuan, or 9 fen per share, from 25.3 million yuan, or 10 fen per share.

As of April 29, US$1 was equivalent to 6.20 yuan.