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Wuxi Little Swan Q4 profit climbs 33.5% YOY

Wuxi Little Swan Co. Ltd. said its normalized net income for the fourth quarter was 23 fen per share, an increase of 34.3% from 17 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 143.0 million yuan, an increase of 33.5% from 107.2 million yuan in the year-earlier period.

The normalized profit margin climbed to 3.9% from 3.5% in the year-earlier period.

Total revenue rose 16.3% year over year to 3.52 billion yuan from 3.03 billion yuan, and total operating expenses climbed 17.4% from the prior-year period to 3.35 billion yuan from 2.86 billion yuan.

Reported net income rose 26.9% on an annual basis to 233.4 million yuan, or 37 fen per share, from 184.0 million yuan, or 29 fen per share.

For the year, the company's normalized net income totaled 98 fen per share, an increase of 25.4% from 78 fen per share in the prior year.

Normalized net income was 618.6 million yuan, an increase of 25.3% from 493.7 million yuan in the prior year.

Full-year total revenue grew 21.5% year over year to 13.13 billion yuan from 10.80 billion yuan, and total operating expenses increased 21.6% year over year to 12.23 billion yuan from 10.06 billion yuan.

The company said reported net income increased 31.7% year over year to 919.2 million yuan, or 1.45 yuan per share, in the full year, from 698.2 million yuan, or 1.10 yuan per share.

As of March 9, US$1 was equivalent to 6.51 yuan.