China Gas Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 19 Hong Kong cents per share, a gain of 105.3% from 9 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$932.9 million, an increase of 103.8% from HK$457.9 million in the prior-year period.
The normalized profit margin rose to 9.9% from 6.0% in the year-earlier period.
Total revenue grew 22.6% year over year to HK$9.41 billion from HK$7.67 billion, and total operating expenses climbed 19.5% from the prior-year period to HK$7.84 billion from HK$6.56 billion.
Reported net income grew 153.4% on an annual basis to HK$1.23 billion, or 25 cents per share, from HK$484.6 million, or 10 cents per share.
For the year, the company's normalized net income totaled 65 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 78 cents.
EPS rose from 43 cents in the prior year.
Normalized net income was HK$3.21 billion, a gain from HK$2.12 billion in the prior year.
Full-year total revenue grew on an annual basis to HK$31.99 billion from HK$29.50 billion, and total operating expenses increased on an annual basis to HK$26.52 billion from HK$24.93 billion.
The company said reported net income grew year over year to HK$4.15 billion, or 85 cents per share, in the full year, from HK$2.27 billion, or 46 cents per share.