Dali Foods Group Company Ltd said its normalized net income for the second half amounted to 1.15 billion yuan, an increase of 32.7% from 864.8 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed 11.4% on an annual basis to 8.36 billion yuan from 7.51 billion yuan, and total operating expenses rose 7.5% year over year to 6.64 billion yuan from 6.18 billion yuan.

Reported net income came to 1.40 billion yuan, compared with 1.04 billion yuan in the prior-year period.

For the year, the company's normalized net income totaled 19 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 21 fen.

EPS rose 30.1% from 15 fen in the prior year.

Normalized net income was 2.33 billion yuan, an increase of 35.0% from 1.73 billion yuan in the prior year.

Full-year total revenue rose 13.2% from the prior-year period to 16.86 billion yuan from 14.89 billion yuan, and total operating expenses rose 9.3% on an annual basis to 13.39 billion yuan from 12.25 billion yuan.

The company said reported net income increased 40.2% year over year to 2.91 billion yuan, or 24 fen per share, in the full year, from 2.08 billion yuan, or 18 fen per share.

As of March 28, US$1 was equivalent to 6.48 yuan.