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Chitose Internasional Q4 profit climbs YOY

PT Chitose Internasional Tbk said its normalized net income for the fourth quarter amounted to 2.78 rupiah per share, a decline of 17.4% from 3.36 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.39 billion rupiah, a gain from 3.47 billion rupiah in the prior-year period.

The normalized profit margin increased to 8.2% from 4.7% in the year-earlier period.

Total revenue rose 22.2% year over year to 90.09 billion rupiah from 73.74 billion rupiah, and total operating expenses grew 14.3% on an annual basis to 78.21 billion rupiah from 68.42 billion rupiah.

Reported net income increased on an annual basis to 7.51 billion rupiah, or 2.83 rupiah per share, from 3.11 billion rupiah, or 3.01 rupiah per share.

For the year, the company's normalized net income totaled 17.30 rupiah per share, a decrease of 32.1% from 25.47 rupiah per share in the prior year.

Normalized net income was 24.47 billion rupiah, an increase of 11.5% from 21.95 billion rupiah in the prior year.

Full-year total revenue grew 10.0% on an annual basis to 315.23 billion rupiah from 286.47 billion rupiah, and total operating expenses increased 10.4% year over year to 275.04 billion rupiah from 249.08 billion rupiah.

The company said reported net income increased 13.4% year over year to 28.46 billion rupiah, or 20.12 rupiah per share, in the full year, from 25.10 billion rupiah, or 29.12 rupiah per share.

As of March 23, US$1 was equivalent to 13,217.50 rupiah.