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Wuhan Department Store Q4 profit climbs 30.1% YOY

Wuhan Department Store Group Co. Ltd. said its fourth-quarter normalized net income was 33 fen per share, an increase of 13.9% from 29 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 248.2 million yuan, a gain of 30.1% from 190.8 million yuan in the year-earlier period.

The normalized profit margin increased to 4.8% from 4.1% in the year-earlier period.

Total revenue increased 11.1% year over year to 5.16 billion yuan from 4.65 billion yuan, and total operating expenses rose 10.6% year over year to 4.77 billion yuan from 4.31 billion yuan.

Reported net income grew 16.1% year over year to 285.7 million yuan, or 37 fen per share, from 246.0 million yuan, or 37 fen per share.

For the year, the company's normalized net income totaled 1.11 yuan per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.25 yuan.

EPS rose 10.6% from 1.01 yuan in the prior year.

Normalized net income was 811.0 million yuan, a rise of 21.7% from 666.5 million yuan in the prior year.

Full-year total revenue amounted to 17.69 billion yuan, compared with 17.52 billion yuan in the prior year, and total operating expenses came to 16.35 billion yuan, compared with 16.39 billion yuan in the prior-year period.

The company said reported net income increased 24.1% year over year to 991.6 million yuan, or 1.36 yuan per share, in the full year, from 799.3 million yuan, or 1.21 yuan per share.

As of April 21, US$1 was equivalent to 6.88 yuan.