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Hyundai Department Store Q4 profit falls YOY

Hyundai Department Store Co. Ltd. said its fourth-quarter normalized net income came to 4,060.80 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,409.30 won per share.

In the prior-year period, the per-share result was a profit of 4,041.50 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 92.55 billion won, compared with 93.09 billion won in the prior-year period.

The normalized profit margin dropped to 14.4% from 21.6% in the year-earlier period.

Total revenue climbed 10.4% year over year to 476.35 billion won from 431.58 billion won, and total operating expenses rose 11.7% year over year to 345.92 billion won from 309.79 billion won.

Reported net income fell 8.9% from the prior-year period to 76.03 billion won, or 3,336.21 won per share, from 83.46 billion won, or 3,623.06 won per share.

For the year, the company's normalized net income totaled 9,657.42 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11,595.25 won.

EPS was 9,670.37 won in the prior year.

Normalized net income was 220.45 billion won, a fall from 222.77 billion won in the prior year.

Full-year total revenue increased 6.8% year over year to 1.657 trillion won from 1.552 trillion won, and total operating expenses increased 5.4% on an annual basis to 1.295 trillion won from 1.228 trillion won.

The company said reported net income declined 10.2% on an annual basis to 240.91 billion won, or 10,553.71 won per share, in the full year, from 268.42 billion won, or 11,652.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.