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Guangdong Chant Q4 profit climbs YOY

Guangdong Chant Group Inc. said its normalized net income for the fourth quarter amounted to 11.4 million yuan, a gain from 2.9 million yuan in the year-earlier period.

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

The normalized profit margin rose to 2.7% from 0.8% in the year-earlier period.

Total revenue climbed 10.5% on an annual basis to 418.4 million yuan from 378.7 million yuan, and total operating expenses climbed 6.7% on an annual basis to 394.8 million yuan from 369.9 million yuan.

Reported net income grew on an annual basis to 28.7 million yuan, or 4 fen per share, from 6.4 million yuan, or 1 fen per share.

For the year, the company's normalized net income totaled 13 fen per share, a gain of 21.8% from 11 fen per share in the prior year.

Normalized net income was 93.7 million yuan, a gain of 48.2% from 63.2 million yuan in the prior year.

Full-year total revenue grew 15.5% year over year to 1.60 billion yuan from 1.39 billion yuan, and total operating expenses increased 12.9% year over year to 1.45 billion yuan from 1.28 billion yuan.

The company said reported net income increased 74.6% on an annual basis to 109.6 million yuan, or 15 fen per share, in the full year, from 62.8 million yuan, or 11 fen per share.

As of March 25, US$1 was equivalent to 6.51 yuan.