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Beijing Hualian Hypermarket swings to profit in Q4

Beijing Hualian Hypermarket Co. Ltd. said its normalized net income for the fourth quarter amounted to 3.7 million yuan, compared with a loss of 39.2 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.1% from negative 1.5% in the year-earlier period.

Total revenue totaled 2.58 billion yuan, compared with 2.60 billion yuan in the prior-year period, and total operating expenses decreased year over year to 2.55 billion yuan from 2.68 billion yuan.

Reported net income totaled 6.3 million yuan, or 1 fen per share, compared to a loss of 112.1 million yuan, or a loss of 17 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 29 fen per share, compared with a loss of 12 fen per share in the prior year.

Normalized net income was 191.1 million yuan, compared with a loss of 78.9 million yuan in the prior year.

Full-year total revenue declined year over year to 11.76 billion yuan from 12.36 billion yuan, and total operating expenses declined 6.0% year over year to 11.68 billion yuan from 12.43 billion yuan.

The company said reported net income came to 78.2 million yuan, or 12 fen per share, in the full year, compared with a loss of 260.4 million yuan, or a loss of 39 fen per share, the prior year.

As of April 13, US$1 was equivalent to 6.27 yuan.