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SDIC Zhonglu Fruit Juice Q4 loss narrows YOY

SDIC Zhonglu Fruit Juice Co.Ltd. said its fourth-quarter normalized net income was a loss of 5 fen per share, compared with a loss of 16 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 13.4 million yuan, compared with a loss of 41.3 million yuan in the year-earlier period.

The normalized profit margin increased to negative 4.4% from negative 20.9% in the year-earlier period.

Total revenue grew on an annual basis to 410.9 million yuan from 198.1 million yuan, and total operating expenses grew 54.7% year over year to 396.2 million yuan from 256.1 million yuan.

Reported net income came to 28.9 million yuan, or 10 fen per share, compared to a loss of 63.5 million yuan, or a loss of 24 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4 fen per share, compared with a loss of 22 fen per share in the prior year.

Normalized net income was a loss of 10.2 million yuan, compared with a loss of 58.2 million yuan in the prior year.

Full-year total revenue increased 25.1% year over year to 1.10 billion yuan from 877.6 million yuan, and total operating expenses grew 12.3% on an annual basis to 1.06 billion yuan from 946.1 million yuan.

The company said reported net income totaled 32.0 million yuan, or 12 fen per share, in the full year, compared with a loss of 111.1 million yuan, or a loss of 42 fen per share, the prior year.

As of March 28, US$1 was equivalent to 6.48 yuan.