Angel Yeast Co. Ltd. said its normalized net income for the fourth quarter was 14 fen per share, compared with the S&P Capital IQ consensus estimate of 18 fen per share.
EPS increased year over year from 3 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 113.5 million yuan, an increase from 24.4 million yuan in the year-earlier period.
The normalized profit margin increased to 8.3% from 2.1% in the year-earlier period.
Total revenue climbed 18.4% on an annual basis to 1.36 billion yuan from 1.15 billion yuan, and total operating expenses increased 13.3% year over year to 1.17 billion yuan from 1.03 billion yuan.
Reported net income increased 76.8% year over year to 152.3 million yuan, or 19 fen per share, from 86.2 million yuan, or 10 fen per share.
For the year, the company's normalized net income totaled 40 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 64 fen.
EPS rose 95.2% from 21 fen in the prior year.
Normalized net income was 332.0 million yuan, an increase of 95.2% from 170.1 million yuan in the prior year.
Full-year total revenue grew 15.4% from the prior-year period to 4.86 billion yuan from 4.21 billion yuan, and total operating expenses grew 11.8% on an annual basis to 4.21 billion yuan from 3.76 billion yuan.
The company said reported net income grew 91.0% on an annual basis to 535.1 million yuan, or 65 fen per share, in the full year, from 280.1 million yuan, or 34 fen per share.
As of March 15, US$1 was equivalent to 6.91 yuan.