Pou Sheng International (Holdings) Ltd said its normalized net income for the fourth quarter came to 38.9 million yuan, a decline of 46.5% from 72.7 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 1.0% from 2.3% in the year-earlier period.
Total revenue increased 29.3% year over year to 4.07 billion yuan from 3.15 billion yuan, and total operating expenses grew 28.8% year over year to 3.94 billion yuan from 3.06 billion yuan.
Reported net income decreased 85.5% on an annual basis to 14.6 million yuan, or 0 fen per share, from 101.2 million yuan, or 2 fen per share.
For the year, the company's normalized net income totaled 10 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14 fen.
EPS rose 57.4% from 6 fen in the prior year.
Normalized net income was 516.0 million yuan, a rise of 55.5% from 331.9 million yuan in the prior year.
Full-year total revenue increased 12.2% on an annual basis to 16.24 billion yuan from 14.47 billion yuan, and total operating expenses rose 10.4% on an annual basis to 15.30 billion yuan from 13.86 billion yuan.
The company said reported net income rose 41.2% on an annual basis to 560.4 million yuan, or 11 fen per share, in the full year, from 396.8 million yuan, or 7 fen per share.
As of April 21, US$1 was equivalent to 6.88 yuan.