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Yinchuan Xinhua Commercial swings to profit in Q4

4912363 said its fourth-quarter normalized net income was 3 fen per share, compared with a loss of 4 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 7.5 million yuan, compared with a loss of 9.2 million yuan in the prior-year period.

The normalized profit margin climbed to 0.2% from negative 0.5% in the year-earlier period.

Total revenue climbed 7.6% year over year to 1.93 billion yuan from 1.79 billion yuan, and total operating expenses rose 5.8% year over year to 1.92 billion yuan from 1.82 billion yuan.

Reported net income came to 2.1 million yuan, or 1 fen per share, compared to a loss of 37.1 million yuan, or a loss of 16 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 61 fen per share, a fall of 36.7% from 97 fen per share in the prior year.

Normalized net income was 137.0 million yuan, a decrease of 36.4% from 215.3 million yuan in the prior year.

Full-year total revenue increased 8.6% on an annual basis to 7.40 billion yuan from 6.82 billion yuan, and total operating expenses increased 8.7% on an annual basis to 7.19 billion yuan from 6.62 billion yuan.

he company said reported net income decline Yinchuan Xinhua Commercial (Group) Co. Ltd..