Carpenter Tan Holdings Ltd said its normalized net income for the first half was 19 fen per share, a decline from 19 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 46.4 million yuan, a decline from 48.6 million yuan in the prior-year period.

Total revenue decreased 7.1% on an annual basis to 132.8 million yuan from 142.8 million yuan, and total operating expenses decreased 6.6% on an annual basis to 61.1 million yuan from 65.4 million yuan.

Reported net income declined 8.4% from the prior-year period to 57.9 million yuan, or 23 fen per share, from 63.2 million yuan, or 25 fen per share.

As of Sept. 16, US$1 was equivalent to 6.67 yuan.