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Zhejiang Supor profit misses consensus by 46.9% in Q4

Zhejiang Supor Co. Ltd. said its normalized net income for the fourth quarter was 15 fen per share, compared with the S&P Capital IQ consensus estimate of 28 fen per share.

EPS rose 9.7% year over year from 13 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 121.1 million yuan, an increase of 9.8% from 110.3 million yuan in the prior-year period.

The normalized profit margin fell to 4.0% from 4.7% in the year-earlier period.

Total revenue climbed 11.1% year over year to 2.63 billion yuan from 2.37 billion yuan, and total operating expenses increased 11.7% on an annual basis to 2.41 billion yuan from 2.16 billion yuan.

Reported net income increased 38.8% from the prior-year period to 252.1 million yuan, or 31 fen per share, from 181.6 million yuan, or 22 fen per share.

For the year, the company's normalized net income totaled 75 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 99 fen.

EPS rose 27.0% from 59 fen in the prior year.

Normalized net income was 613.4 million yuan, a rise of 26.9% from 483.2 million yuan in the prior year.

Full-year total revenue increased 14.4% from the prior-year period to 10.91 billion yuan from 9.53 billion yuan, and total operating expenses increased 13.2% year over year to 9.83 billion yuan from 8.68 billion yuan.

The company said reported net income grew 28.9% year over year to 889.1 million yuan, or 1.08 yuan per share, in the full year, from 689.9 million yuan, or 84 fen per share.

As of March 24, US$1 was equivalent to 6.52 yuan.