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President Chain Store profit misses consensus by 16.0% in Q4

President Chain Store Corp. said its fourth-quarter normalized net income came to NT$1.38 per share, compared with the S&P Capital IQ consensus estimate of NT$1.65 per share.

EPS rose 10.1% year over year from NT$1.26.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.44 billion, an increase of 10.0% from NT$1.31 billion in the prior-year period.

The normalized profit margin increased to 2.8% from 2.6% in the year-earlier period.

Total revenue rose 5.4% on an annual basis to NT$52.42 billion from NT$49.71 billion, and total operating expenses rose 5.3% on an annual basis to NT$50.11 billion from NT$47.57 billion.

Reported net income rose from the prior-year period to NT$1.50 billion, or NT$1.44 per share, from NT$1.44 billion, or NT$1.38 per share.

For the year, the company's normalized net income totaled NT$6.15 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of NT$8.09.

EPS rose from NT$5.89 in the prior year.

Normalized net income was NT$6.41 billion, an increase from NT$6.14 billion in the prior year.

Full-year total revenue increased year over year to NT$205.48 billion from NT$200.44 billion, and total operating expenses increased on an annual basis to NT$195.87 billion from NT$190.93 billion.

The company said reported net income fell 9.3% year over year to NT$8.24 billion, or NT$7.90 per share, in the full year, from NT$9.09 billion, or NT$8.72 per share.

As of March 29, US$1 was equivalent to NT$32.58.