Parkson Retail Group Ltd said its fourth-quarter normalized net income amounted to 2 fen per share, an increase of 22.7% from 2 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.4 million yuan, an increase of 19.9% from 41.2 million yuan in the prior-year period.

The normalized profit margin increased to 4.2% from 3.3% in the year-earlier period.

Total revenue declined 7.9% year over year to 1.16 billion yuan from 1.26 billion yuan, and total operating expenses declined 11.5% from the prior-year period to 1.07 billion yuan from 1.20 billion yuan.

Reported net income came to a loss of 85.9 million yuan, or a loss of 3 fen per share, compared to a loss of 40.5 million yuan, or a loss of 1 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 8.7 million yuan, a decline of 96.8% from 275.6 million yuan in the prior year.

Full-year total revenue declined 5.4% from the prior-year period to 4.74 billion yuan from 5.00 billion yuan, and total operating expenses grew year over year to 4.69 billion yuan from 4.60 billion yuan.

The company said reported net income totaled a loss of 186.2 million yuan, or a loss of 7 fen per share, in the full year, compared with income of 235.0 million yuan, or 8 fen per share, the prior year.

As of April 14, US$1 was equivalent to 6.49 yuan.