S&T Holdings Co. Ltd. said its normalized net income for the fourth quarter amounted to 346.98 South Korean won per share, an increase of 55.3% from 223.43 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.99 billion won, a gain of 55.0% from 3.22 billion won in the prior-year period.

The normalized profit margin increased to 1.1% from 0.8% in the year-earlier period.

Total revenue climbed 9.1% on an annual basis to 443.99 billion won from 406.83 billion won, and total operating expenses grew from the prior-year period to 402.48 billion won from 398.03 billion won.

Reported net income rose 82.1% year over year to 8.20 billion won, or 570.52 won per share, from 4.50 billion won, or 312.68 won per share.

For the year, the company's normalized net income totaled 1,478.15 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2,298.99 won.

EPS rose from 618.23 won in the prior year.

Normalized net income was 23.35 billion won, a gain from 9.78 billion won in the prior year.

Full-year total revenue increased year over year to 1.613 trillion won from 1.552 trillion won, and total operating expenses fell year over year to 1.451 trillion won from 1.487 trillion won.

The company said reported net income increased 46.1% year over year to 32.83 billion won, or 2,078.29 won per share, in the full year, from 22.46 billion won, or 1,420.17 won per share.

As of Feb. 24, US$1 was equivalent to 1,234.55 South Korean won.