Hna-Caissa Travel Group Co. Ltd. said its normalized net income for the fourth quarter was 4 fen per share, compared with a loss of 8 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 28.9 million yuan, compared with a loss of 20.1 million yuan in the year-earlier period.
The normalized profit margin rose to 2.4% from negative 2.7% in the year-earlier period.
Total revenue rose 61.2% on an annual basis to 1.21 billion yuan from 750.0 million yuan, and total operating expenses rose 68.1% year over year to 1.15 billion yuan from 686.8 million yuan.
Reported net income increased on an annual basis to 38.8 million yuan, or 5 fen per share, from 292,550 yuan, or 0 fen per share.
For the year, the company's normalized net income totaled 23 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 27 fen.
EPS rose 97.7% from 12 fen in the prior year.
Normalized net income was 160.6 million yuan, an increase from 54.2 million yuan in the prior year.
Full-year total revenue grew 51.9% year over year to 4.93 billion yuan from 3.25 billion yuan, and total operating expenses grew 52.7% on an annual basis to 4.63 billion yuan from 3.03 billion yuan.
The company said reported net income grew on an annual basis to 205.8 million yuan, or 29 fen per share, in the full year, from 89.6 million yuan, or 19 fen per share.
As of March 4, US$1 was equivalent to 6.51 yuan.