Kuaijishan Shaoxing Rice Wine Co. Ltd. said its normalized net income for the fourth quarter amounted to 7 fen per share, a gain of 57.5% from 4 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 30.6 million yuan, an increase of 65.1% from 18.5 million yuan in the prior-year period.
The normalized profit margin increased to 7.8% from 6.0% in the year-earlier period.
Total revenue climbed 16.4% on an annual basis to 359.4 million yuan from 308.9 million yuan, and total operating expenses grew 11.4% year over year to 299.4 million yuan from 268.7 million yuan.
Reported net income increased 16.0% from the prior-year period to 42.3 million yuan, or 10 fen per share, from 36.5 million yuan, or 9 fen per share.
For the year, the company's normalized net income totaled 23 fen per share, a decline of 12.9% from 26 fen per share in the prior year.
Normalized net income was 92.4 million yuan, a rise of 6.1% from 87.0 million yuan in the prior year.
Full-year total revenue grew 6.5% from the prior-year period to 914.9 million yuan from 859.1 million yuan, and total operating expenses grew 6.2% on an annual basis to 744.2 million yuan from 700.7 million yuan.
The company said reported net income grew on an annual basis to 113.7 million yuan, or 28 fen per share, in the full year, from 109.9 million yuan, or 33 fen per share.
As of March 28, US$1 was equivalent to 6.48 yuan.