Guangzhou Zhujiang Brewery Co. Ltd. said its normalized net income for the second quarter amounted to 3 fen per share, a decline of 23.9% from 4 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 24.5 million yuan, a decline of 5.3% from 25.9 million yuan in the prior-year period.

The normalized profit margin climbed to 3.6% from 2.4% in the year-earlier period.

Total revenue declined year over year to 1.06 billion yuan from 1.10 billion yuan, and total operating expenses declined 4.9% on an annual basis to 1.01 billion yuan from 1.07 billion yuan.

Reported net income rose 49.0% on an annual basis to 46.2 million yuan, or 6 fen per share, from 31.0 million yuan, or 5 fen per share.

As of Aug. 29, US$1 was equivalent to 6.68 yuan.