Henan Kedi Dairy Co.Ltd. said its normalized net income for the fourth quarter came to 1 fen per share, a decrease of 7.1% 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 15.2 million yuan, an increase of 19.6% from 12.7 million yuan in the prior-year period.
The normalized profit margin climbed to 8.0% from 7.3% in the year-earlier period.
Total revenue increased 6.1% on an annual basis to 183.8 million yuan from 173.2 million yuan, and total operating expenses climbed on an annual basis to 148.6 million yuan from 142.7 million yuan.
Reported net income grew 29.0% year over year to 25.3 million yuan, or 2 fen per share, from 19.6 million yuan, or 2 fen per share.
For the year, the company's normalized net income totaled 8 fen per share, a fall of 15.6% from 9 fen per share in the prior year.
Normalized net income was 72.9 million yuan, compared with 73.3 million yuan in the prior year.
Full-year total revenue rose on an annual basis to 683.1 million yuan from 666.2 million yuan, and total operating expenses came to 529.8 million yuan, compared with 526.3 million yuan in the year-earlier period.
The company said reported net income grew year over year to 96.7 million yuan, or 11 fen per share, in the full year, from 94.5 million yuan, or 12 fen per share.
As of March 1, US$1 was equivalent to 6.55 yuan.