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361 Degrees International H2 profit climbs 14.4% YOY

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361 Degrees International H2 profit climbs 14.4% YOY

361 Degrees International Ltd said its second-half normalized net income came to 11 fen per share, compared with the S&P Capital IQ consensus estimate of 12 fen per share.

EPS increased 14.4% year over year from 9 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 220.0 million yuan, an increase of 14.4% from 192.4 million yuan in the prior-year period.

Total revenue grew 23.9% on an annual basis to 2.25 billion yuan from 1.82 billion yuan, and total operating expenses increased 25.1% on an annual basis to 1.89 billion yuan from 1.51 billion yuan.

Reported net income increased 74.1% year over year to 248.1 million yuan, or 12 fen per share, from 142.5 million yuan, or 6 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 24 fen.

EPS rose 14.7% from 20 fen in the prior year.

Normalized net income was 481.2 million yuan, an increase of 14.7% from 419.7 million yuan in the prior year.

Full-year total revenue rose 14.1% from the prior-year period to 4.46 billion yuan from 3.91 billion yuan, and total operating expenses rose 13.0% year over year to 3.67 billion yuan from 3.25 billion yuan.

The company said reported net income grew 30.2% year over year to 517.6 million yuan, or 25 fen per share, in the full year, from 397.6 million yuan, or 19 fen per share.

As of March 8, US$1 was equivalent to 6.50 yuan.