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Fu Shou Yuan International H2 profit climbs 14.9% YOY

Fu Shou Yuan International Group Ltd. said its normalized net income for the second half amounted to 4 fen per share, an increase of 13.1% from 3 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 80.5 million yuan, an increase of 14.9% from 70.1 million yuan in the prior-year period.

Total revenue increased 35.2% on an annual basis to 520.3 million yuan from 384.9 million yuan, and total operating expenses climbed 35.6% year over year to 360.6 million yuan from 266.0 million yuan.

Reported net income rose 23.0% on an annual basis to 124.9 million yuan, or 6 fen per share, from 101.5 million yuan, or 5 fen per share.

For the year, the company's normalized net income totaled 10 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 15 fen.

EPS rose 29.1% from 8 fen in the prior year.

Normalized net income was 206.4 million yuan, a rise of 30.4% from 158.3 million yuan in the prior year.

Full-year total revenue rose 39.3% year over year to 1.11 billion yuan from 795.1 million yuan, and total operating expenses rose 38.4% year over year to 703.7 million yuan from 508.3 million yuan.

The company said reported net income grew 23.2% year over year to 283.4 million yuan, or 13 fen per share, in the full year, from 230.1 million yuan, or 11 fen per share.

As of April 12, US$1 was equivalent to 6.47 yuan.