Shanghai Xujiahui Commercial Co. Ltd. said its normalized net income for the fourth quarter amounted to 14 fen per share, an increase from 13 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 56.0 million yuan, a decline from 57.7 million yuan in the year-earlier period.
The normalized profit margin rose to 10.2% from 9.8% in the year-earlier period.
Total revenue decreased 10.1% on an annual basis to 528.3 million yuan from 587.8 million yuan, and total operating expenses decreased 10.5% from the prior-year period to 441.6 million yuan from 493.2 million yuan.
Reported net income decreased 8.6% on an annual basis to 70.2 million yuan, or 17 fen per share, from 76.8 million yuan, or 18 fen per share.
For the year, the company's normalized net income totaled 49 fen per share, a decrease from 50 fen per share in the prior year.
Normalized net income was 204.2 million yuan, a decline from 206.9 million yuan in the prior year.
Full-year total revenue decreased from the prior-year period to 2.00 billion yuan from 2.06 billion yuan, and total operating expenses decreased year over year to 1.68 billion yuan from 1.74 billion yuan.
The company said reported net income declined on an annual basis to 253.1 million yuan, or 61 fen per share, in the full year, from 258.0 million yuan, or 62 fen per share.
As of March 30, US$1 was equivalent to 6.47 yuan.