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Berjaya Philippines fiscal Q4 profit climbs 48.0% YOY

Berjaya Philippines Inc. said its normalized net income for the fiscal fourth quarter ended April 30 was 5 Philippine centavos per share, a gain of 48.0% from 3 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 211.6 million pesos, a gain of 48.0% from 143.0 million pesos in the year-earlier period.

The normalized profit margin increased to 2.8% from 2.2% in the year-earlier period.

Total revenue rose 18.0% on an annual basis to 7.58 billion pesos from 6.42 billion pesos, and total operating expenses increased 18.6% on an annual basis to 7.18 billion pesos from 6.05 billion pesos.

Reported net income decreased 20.8% year over year to 315.0 million pesos, or 7 centavos per share, from 397.6 million pesos, or 9 centavos per share.

For the year, the company's normalized net income totaled 16 centavos per share, a gain from 16 centavos per share in the prior year.

Normalized net income was 707.2 million pesos, an increase from 676.6 million pesos in the prior year.

Full-year total revenue grew from the prior-year period to 26.47 billion pesos from 12.49 billion pesos, and total operating expenses increased 120.2% year over year to 25.27 billion pesos from 11.48 billion pesos.

The company said reported net income fell 18.4% year over year to 892.5 million pesos, or 21 centavos per share, in the full year, from 1.09 billion pesos, or 25 centavos per share.

As of Aug. 14, US$1 was equivalent to 46.16 Philippine pesos.