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Sunvim Group Q4 profit climbs 21.1% YOY

Sunvim Group Co. Ltd. said its fourth-quarter normalized net income was 11 fen per share, a gain of 27.5% from 9 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 100.2 million yuan, an increase of 21.1% from 82.8 million yuan in the prior-year period.

The normalized profit margin rose to 9.1% from 8.0% in the year-earlier period.

Total revenue climbed 6.5% on an annual basis to 1.10 billion yuan from 1.03 billion yuan, and total operating expenses increased 9.4% on an annual basis to 953.6 million yuan from 871.5 million yuan.

Reported net income rose 43.0% from the prior-year period to 136.5 million yuan, or 15 fen per share, from 95.4 million yuan, or 10 fen per share.

For the year, the company's normalized net income totaled 34 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 40 fen.

EPS rose 15.5% from 30 fen in the prior year.

Normalized net income was 310.2 million yuan, a gain of 13.7% from 272.7 million yuan in the prior year.

Full-year total revenue rose on an annual basis to 4.37 billion yuan from 4.21 billion yuan, and total operating expenses increased year over year to 3.82 billion yuan from 3.66 billion yuan.

The company said reported net income grew 21.7% year over year to 378.2 million yuan, or 42 fen per share, in the full year, from 310.8 million yuan, or 34 fen per share.

As of April 7, US$1 was equivalent to 6.90 yuan.