PT Wilmar Cahaya Indonesia Tbk. said its normalized net income for the fourth quarter amounted to 48.43 rupiah per share, an increase of 29.8% from 37.30 rupiah per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 28.82 billion rupiah, an increase of 29.8% from 22.19 billion rupiah in the year-earlier period.
The normalized profit margin rose to 3.6% from 2.4% in the year-earlier period.
Total revenue declined 14.7% year over year to 802.67 billion rupiah from 941.37 billion rupiah, and total operating expenses decreased 16.1% on an annual basis to 746.81 billion rupiah from 890.20 billion rupiah.
Reported net income grew 31.9% from the prior-year period to 34.56 billion rupiah, or 58.08 rupiah per share, from 26.19 billion rupiah, or 44.02 rupiah per share.
For the year, the company's normalized net income totaled 149.37 rupiah per share, an increase from 59.85 rupiah per share in the prior year.
Normalized net income was 88.87 billion rupiah, a gain from 35.61 billion rupiah in the prior year.
Full-year total revenue decreased 5.8% on an annual basis to 3.486 trillion rupiah from 3.702 trillion rupiah, and total operating expenses declined 8.3% on an annual basis to 3.289 trillion rupiah from 3.587 trillion rupiah.
The company said reported net income increased year over year to 106.55 billion rupiah, or 179.07 rupiah per share, in the full year, from 41.00 billion rupiah, or 68.91 rupiah per share.
As of April 7, US$1 was equivalent to 13,150 rupiah.