Aeon Co. (M) Bhd. said its normalized net income for the fourth quarter was 3 Malaysian sen per share, a decrease of 17.7% from 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 37.5 million ringgits, a decline of 17.7% from 45.6 million ringgits in the prior-year period.

The normalized profit margin dropped to 3.7% from 4.7% in the year-earlier period.

Total revenue grew year over year to 1.02 billion ringgits from 975.7 million ringgits, and total operating expenses grew 6.5% on an annual basis to 955.5 million ringgits from 897.6 million ringgits.

Reported net income fell 30.7% from the prior-year period to 26.5 million ringgits, or 2 sen per share, from 38.3 million ringgits, or 3 sen per share.

For the year, the company's normalized net income totaled 7 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6 sen.

EPS declined 27.4% from 9 sen in the prior year.

Normalized net income was 96.5 million ringgits, a decline of 27.4% from 132.9 million ringgits in the prior year.

Full-year total revenue rose 5.3% on an annual basis to 4.04 billion ringgits from 3.83 billion ringgits, and total operating expenses grew 6.9% year over year to 3.86 billion ringgits from 3.61 billion ringgits.

The company said reported net income fell 40.2% on an annual basis to 79.7 million ringgits, or 6 sen per share, in the full year, from 133.4 million ringgits, or 10 sen per share.

As of April 28, US$1 was equivalent to 4.34 ringgits.