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Dharma Samudera Fishing Industries Q4 profit falls YOY

PT Dharma Samudera Fishing Industries Tbk said its normalized net income for the fourth quarter came to 2.86 rupiah per share, a decrease from 2.98 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 5.31 billion rupiah, a decrease from 5.53 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 4.1% from 4.4% in the year-earlier period.

Total revenue increased on an annual basis to 129.89 billion rupiah from 126.23 billion rupiah, and total operating expenses grew 6.4% on an annual basis to 124.34 billion rupiah from 116.88 billion rupiah.

Reported net income fell 49.1% on an annual basis to 3.48 billion rupiah, or 1.87 rupiah per share, from 6.84 billion rupiah, or 3.68 rupiah per share.

For the year, the company's normalized net income totaled 7.36 rupiah per share, a gain of 40.1% from 5.26 rupiah per share in the prior year.

Normalized net income was 13.68 billion rupiah, an increase of 40.1% from 9.76 billion rupiah in the prior year.

Full-year total revenue rose 23.7% on an annual basis to 557.26 billion rupiah from 450.59 billion rupiah, and total operating expenses increased 24.9% year over year to 534.27 billion rupiah from 427.74 billion rupiah.

The company said reported net income grew 13.9% year over year to 13.54 billion rupiah, or 7.29 rupiah per share, in the full year, from 11.89 billion rupiah, or 6.40 rupiah per share.

As of March 30, US$1 was equivalent to 13,222.50 rupiah.