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Markor International Home Furnishings Q4 profit falls 5.6% YOY

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Markor International Home Furnishings Q4 profit falls 5.6% YOY

Markor International Home Furnishings Co. Ltd. said its normalized net income for the fourth quarter was 5 fen per share, compared with the S&P Capital IQ consensus estimate of 5 fen per share.

EPS fell year over year from 5 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 74.4 million yuan, a decline of 5.6% from 78.8 million yuan in the prior-year period.

The normalized profit margin dropped to 8.6% from 10.3% in the year-earlier period.

Total revenue rose 8.7% year over year to 829.4 million yuan from 762.8 million yuan, and total operating expenses rose 11.7% year over year to 697.7 million yuan from 624.6 million yuan.

Reported net income grew 12.5% from the prior-year period to 94.4 million yuan, or 7 fen per share, from 83.9 million yuan, or 6 fen per share.

For the year, the company's normalized net income totaled 16 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 19 fen.

EPS rose 21.7% from 13 fen in the prior year.

Normalized net income was 233.0 million yuan, a rise of 21.6% from 191.5 million yuan in the prior year.

Full-year total revenue grew 5.3% year over year to 2.86 billion yuan from 2.71 billion yuan, and total operating expenses increased on an annual basis to 2.45 billion yuan from 2.39 billion yuan.

The company said reported net income increased 27.7% year over year to 297.4 million yuan, or 20 fen per share, in the full year, from 232.9 million yuan, or 16 fen per share.

As of April 14, US$1 was equivalent to 6.49 yuan.