PT Indofood Sukses Makmur Tbk said its normalized net income for the fourth quarter was 130.34 rupiah per share, a gain of 63.8% from 79.59 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 1.144 trillion rupiah, a gain of 63.8% from 698.82 billion rupiah in the prior-year period.
The normalized profit margin climbed to 7.5% from 4.2% in the year-earlier period.
Total revenue decreased on an annual basis to 16.498 trillion rupiah from 16.712 trillion rupiah, and total operating expenses decreased on an annual basis to 14.609 trillion rupiah from 14.817 trillion rupiah.
Reported net income grew 71.4% from the prior-year period to 1.229 trillion rupiah, or 139.93 rupiah per share, from 716.79 billion rupiah, or 81.63 rupiah per share.
For the year, the company's normalized net income totaled 268.75 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 373.69 rupiah.
EPS declined 15.1% from 316.48 rupiah in the prior year.
Normalized net income was 2.360 trillion rupiah, a decrease of 15.1% from 2.779 trillion rupiah in the prior year.
Full-year total revenue amounted to 64.062 trillion rupiah, compared with 63.594 trillion rupiah in the prior year, and total operating expenses grew year over year to 56.943 trillion rupiah from 56.355 trillion rupiah.
The company said reported net income declined 22.1% year over year to 2.490 trillion rupiah, or 283.60 rupiah per share, in the full year, from 3.197 trillion rupiah, or 364.05 rupiah per share.
As of March 28, US$1 was equivalent to 13,330 rupiah.