Better Life Commercial Chain Share Co. Ltd. said its normalized net income for the second quarter came to 3 fen per share, a decline of 54.3% from 6 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 22.2 million yuan, a decrease of 54.3% from 48.7 million yuan in the prior-year period.

The normalized profit margin dropped to 1.1% from 1.3% in the year-earlier period.

Total revenue declined 4.9% on an annual basis to 3.44 billion yuan from 3.61 billion yuan, and total operating expenses fell from the prior-year period to 3.39 billion yuan from 3.56 billion yuan.

Reported net income decreased 25.6% year over year to 47.3 million yuan, or 6 fen per share, from 63.6 million yuan, or 8 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.