Jiangsu Yanghe Brewery JSC Ltd. said its fourth-quarter normalized net income was 48 fen per share, compared with the S&P Capital IQ consensus estimate of 41 fen per share.
EPS climbed 79.1% year over year from 27 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 721.5 million yuan, an increase of 79.4% from 402.2 million yuan in the year-earlier period.
The normalized profit margin rose to 30.2% from 17.0% in the year-earlier period.
Total revenue climbed year over year to 2.39 billion yuan from 2.37 billion yuan, and total operating expenses decreased on an annual basis to 1.79 billion yuan from 1.82 billion yuan.
Reported net income rose 72.3% year over year to 904.0 million yuan, or 60 fen per share, from 524.8 million yuan, or 35 fen per share.
For the year, the company's normalized net income totaled 2.96 yuan per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3.42 yuan.
EPS rose from 2.49 yuan in the prior year.
Normalized net income was 4.46 billion yuan, a gain from 3.75 billion yuan in the prior year.
Full-year total revenue increased year over year to 16.05 billion yuan from 14.67 billion yuan, and total operating expenses increased year over year to 9.69 billion yuan from 8.95 billion yuan.
The company said reported net income grew year over year to 5.37 billion yuan, or 3.56 yuan per share, in the full year, from 4.51 billion yuan, or 2.99 yuan per share.
As of April 26, US$1 was equivalent to 6.50 yuan.