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Inzone Group Q4 profit climbs 6.3% YOY

Inzone Group Co. Ltd. said its normalized net income for the fourth quarter came to 5 fen per share, a gain of 6.1% from 5 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 26.2 million yuan, an increase of 6.3% from 24.6 million yuan in the prior-year period.

The normalized profit margin rose to 0.8% from 0.7% in the year-earlier period.

Total revenue fell 7.4% on an annual basis to 3.20 billion yuan from 3.45 billion yuan, and total operating expenses declined 7.3% from the prior-year period to 3.11 billion yuan from 3.36 billion yuan.

Reported net income came to a loss of 14.0 million yuan, or a loss of 3 fen per share, compared to a loss of 9.5 million yuan, or a loss of 2 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 19 fen per share, a decline of 44.0% from 34 fen per share in the prior year.

Normalized net income was 99.7 million yuan, a fall of 44.0% from 178.0 million yuan in the prior year.

Full-year total revenue decreased 12.0% on an annual basis to 12.85 billion yuan from 14.59 billion yuan, and total operating expenses fell 11.2% year over year to 12.49 billion yuan from 14.07 billion yuan.

The company said reported net income decreased 78.7% on an annual basis to 22.1 million yuan, or 4 fen per share, in the full year, from 103.7 million yuan, or 20 fen per share.

As of March 30, US$1 was equivalent to 6.89 yuan.