Jinling Hotel Corp. Ltd. said its normalized net income for the fourth quarter amounted to 6 fen per share, a gain of 70.5% from 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.7 million yuan, an increase of 68.5% from 9.9 million yuan in the year-earlier period.

The normalized profit margin declined to 3.6% from 4.5% in the year-earlier period.

Total revenue totaled 217.1 million yuan, compared with 218.3 million yuan in the prior-year period, and total operating expenses decreased 5.4% year over year to 199.1 million yuan from 210.4 million yuan.

Reported net income rose 44.4% on an annual basis to 29.1 million yuan, or 10 fen per share, from 20.2 million yuan, or 7 fen per share.

For the year, the company's normalized net income totaled 11 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 31 fen.

EPS rose 13.4% from 10 fen in the prior year.

Normalized net income was 34.0 million yuan, a gain of 13.7% from 29.9 million yuan in the prior year.

Full-year total revenue grew 20.1% year over year to 735.7 million yuan from 612.7 million yuan, and total operating expenses grew 17.1% on an annual basis to 695.7 million yuan from 594.2 million yuan.

The company said reported net income grew 25.1% year over year to 49.9 million yuan, or 17 fen per share, in the full year, from 39.9 million yuan, or 13 fen per share.

As of March 28, US$1 was equivalent to 6.48 yuan.