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Shanghai Worth Garden Products Q1 profit falls YOY

4912386 said its normalized net income for the first quarter amounted to 22 fen per share, a decrease of 8.7% from 24 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 10.0 million yuan, a decline of 8.6% from 11.0 million yuan in the prior-year period.

The normalized profit margin fell to 8.6% from 10.3% in the year-earlier period.

Total revenue increased 9.9% on an annual basis to 116.5 million yuan from 106.1 million yuan, and total operating expenses grew 12.5% on an annual basis to 100.9 million yuan from 89.7 million yuan.

eported net income decreased 9.6% year over Shanghai Worth Garden Products Co. Ltd.