Shanghai Jin Jiang International Hotels Development Co. Ltd. said its fourth-quarter normalized net income amounted to 18 fen per share, a gain of 6.7% from 17 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 145.3 million yuan, a gain of 28.0% from 113.5 million yuan in the prior-year period.
The normalized profit margin fell to 8.9% from 15.2% in the year-earlier period.
Total revenue increased 93.8% year over year to 1.45 billion yuan from 747.9 million yuan, and total operating expenses rose 98.8% on an annual basis to 1.43 billion yuan from 717.6 million yuan.
Reported net income rose 17.3% from the prior-year period to 173.8 million yuan, or 22 fen per share, from 148.1 million yuan, or 22 fen per share.
For the year, the company's normalized net income totaled 66 fen per share, an increase from 63 fen per share in the prior year.
Normalized net income was 533.2 million yuan, an increase of 35.6% from 393.3 million yuan in the prior year.
Full-year total revenue grew 91.0% from the prior-year period to 5.56 billion yuan from 2.91 billion yuan, and total operating expenses increased 88.9% year over year to 5.05 billion yuan from 2.67 billion yuan.
The company said reported net income rose 30.9% on an annual basis to 637.6 million yuan, or 79 fen per share, in the full year, from 487.2 million yuan, or 79 fen per share.
As of March 30, US$1 was equivalent to 6.47 yuan.