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Beijing Jingkelong Q4 profit climbs 71.5% YOY

Beijing Jingkelong Company Ltd said its normalized net income for the fourth quarter came to 3 fen per share, a gain of 71.4% from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.7 million yuan, an increase of 71.5% from 6.2 million yuan in the prior-year period.

The normalized profit margin climbed to 0.4% from 0.2% in the year-earlier period.

Total revenue climbed 8.0% on an annual basis to 2.91 billion yuan from 2.69 billion yuan, and total operating expenses rose 8.8% on an annual basis to 2.85 billion yuan from 2.62 billion yuan.

Reported net income grew on an annual basis to 9.0 million yuan, or 2 fen per share, from 3.2 million yuan, or 1 fen per share.

For the year, the company's normalized net income totaled 6 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3 fen.

EPS declined 31.3% from 9 fen in the prior year.

Normalized net income was 25.1 million yuan, a fall of 31.3% from 36.6 million yuan in the prior year.

Full-year total revenue increased 5.9% on an annual basis to 11.53 billion yuan from 10.89 billion yuan, and total operating expenses increased 6.4% year over year to 11.29 billion yuan from 10.61 billion yuan.

The company said reported net income decreased 39.8% on an annual basis to 24.9 million yuan, or 6 fen per share, in the full year, from 41.3 million yuan, or 10 fen per share.

As of April 11, US$1 was equivalent to 6.46 yuan.