Scandinavian Tobacco Group A/S said its normalized net income for the fourth quarter came to 1.08 Danish kroner per share, a decline of 19.5% from 1.35 kroner per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 106.0 million kroner, a decrease of 20.4% from 133.1 million kroner in the year-earlier period.

The normalized profit margin climbed to 8.3% from 8.2% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to 1.77 billion kroner from 1.63 billion kroner, and total operating expenses rose 11.0% on an annual basis to 1.60 billion kroner from 1.44 billion kroner.

Reported net income fell year over year to 174.2 million kroner, or 1.78 kroner per share, from 178.2 million kroner, or 1.80 kroner per share.

For the year, the company's normalized net income totaled 5.80 kroner per share, a gain of 9.7% from 5.29 kroner per share in the prior year.

Normalized net income was 579.9 million kroner, a rise of 9.7% from 528.5 million kroner in the prior year.

Full-year total revenue rose 9.9% year over year to 6.73 billion kroner from 6.13 billion kroner, and total operating expenses rose 9.5% on an annual basis to 5.76 billion kroner from 5.26 billion kroner.

The company said reported net income increased year over year to 667.6 million kroner, or 6.68 kroner per share, in the full year, from 639.8 million kroner, or 6.40 kroner per share.

As of March 10, US$1 was equivalent to 6.69 Danish kroner.