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China Great STAR International Q4 profit falls YOY

China Great STAR International Ltd. said its normalized net income for the fourth quarter amounted to 71.12 South Korean won per share, a decrease of 57.4% from 166.80 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.57 billion won, a decline of 36.1% from 19.68 billion won in the prior-year period.

The normalized profit margin declined to 8.2% from 12.0% in the year-earlier period.

Total revenue fell 6.8% on an annual basis to 152.53 billion won from 163.65 billion won, and total operating expenses declined year over year to 138.05 billion won from 141.73 billion won.

Reported net income fell 36.4% on an annual basis to 16.17 billion won, or 91.49 won per share, from 25.43 billion won, or 215.53 won per share.

For the year, the company's normalized net income totaled 376.48 won per share, a gain of 57.2% from 239.46 won per share in the prior year.

Normalized net income was 61.77 billion won, a rise from 26.49 billion won in the prior year.

Full-year total revenue increased 5.5% on an annual basis to 619.07 billion won from 587.02 billion won, and total operating expenses increased 6.0% year over year to 537.21 billion won from 506.96 billion won.

The company said reported net income increased year over year to 74.88 billion won, or 456.36 won per share, in the full year, from 20.41 billion won, or 184.55 won per share.

As of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.