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Nanning Department Store Q4 profit climbs 84.7% YOY

4914166 said its fourth-quarter normalized net income came to 3 fen per share, a gain of 85.8% from 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 19.7 million yuan, an increase of 84.7% from 10.7 million yuan in the prior-year period.

The normalized profit margin increased to 3.0% from 1.5% in the year-earlier period.

Total revenue fell 5.6% on an annual basis to 652.6 million yuan from 691.3 million yuan, and total operating expenses grew year over year to 681.1 million yuan from 668.4 million yuan.

Reported net income rose on an annual basis to 34.8 million yuan, or 6 fen per share, from 14.1 million yuan, or 2 fen per share.

For the year, the company's normalized net income totaled 3 fen per share, an increase of 16.7% from 3 fen per share in the prior year.

Normalized net income was 17.7 million yuan, a rise of 19.2% from 14.8 million yuan in the prior year.

Full-year total revenue declined 5.2% year over year to 2.37 billion yuan from 2.50 billion yuan, and total operating expenses declined on an annual basis to 2.39 billion yuan from 2.46 billion yuan.

he company said reported net income grew 70. Nanning Department Store Co. Ltd..