Nanjing Xinjiekou Department Store Co. Ltd. said its fourth-quarter normalized net income amounted to 40 fen per share, a gain of 80.8% from 22 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 300.8 million yuan, a gain of 46.7% from 205.0 million yuan in the prior-year period.

The normalized profit margin climbed to 5.4% from 3.8% in the year-earlier period.

Total revenue grew year over year to 5.59 billion yuan from 5.42 billion yuan, and total operating expenses grew year over year to 5.02 billion yuan from 4.92 billion yuan.

Reported net income grew 51.1% from the prior-year period to 459.3 million yuan, or 62 fen per share, from 303.9 million yuan, or 33 fen per share.

For the year, the company's normalized net income totaled 44 fen per share, a gain of 23.8% from 35 fen per share in the prior year.

Normalized net income was 359.7 million yuan, a rise of 23.8% from 290.4 million yuan in the prior year.

Full-year total revenue increased year over year to 15.85 billion yuan from 7.83 billion yuan, and total operating expenses increased 115.3% year over year to 15.38 billion yuan from 7.14 billion yuan.

The company said reported net income declined 8.0% year over year to 366.5 million yuan, or 45 fen per share, in the full year, from 398.2 million yuan, or 49 fen per share.

As of March 29, US$1 was equivalent to 6.51 yuan.