Henan Kedi Dairy Co.Ltd. said its normalized net income for the first quarter amounted to 1 fen per share, a decrease of 11.8% from 2 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 11.4 million yuan, a decline of 10.1% from 12.7 million yuan in the prior-year period.
The normalized profit margin fell to 8.8% from 9.3% in the year-earlier period.
Total revenue increased on an annual basis to 138.7 million yuan from 136.8 million yuan, and total operating expenses grew from the prior-year period to 113.2 million yuan from 111.5 million yuan.
Reported net income declined 11.1% year over year to 14.2 million yuan, or 2 fen per share, from 15.9 million yuan, or 2 fen per share.
As of June 10, US$1 was equivalent to 6.20 yuan.
