PT Multi Bintang Indonesia Tbk said its fourth-quarter normalized net income came to 58.49 rupiah per share, a decrease of 51.2% from 119.85 rupiah per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 123.23 billion rupiah, a decrease of 51.2% from 252.52 billion rupiah in the year-earlier period.
The normalized profit margin fell to 12.4% from 25.5% in the year-earlier period.
Total revenue totaled 990.30 billion rupiah, compared with 988.34 billion rupiah in the prior-year period, and total operating expenses climbed 35.1% on an annual basis to 760.13 billion rupiah from 562.63 billion rupiah.
Reported net income fell 51.3% on an annual basis to 143.29 billion rupiah, or 68.01 rupiah per share, from 294.13 billion rupiah, or 139.59 rupiah per share.
For the year, the company's normalized net income totaled 200.30 rupiah per share, a decrease of 37.4% from 319.80 rupiah per share in the prior year.
Normalized net income was 422.04 billion rupiah, a fall of 37.4% from 673.81 billion rupiah in the prior year.
Full-year total revenue declined 9.8% from the prior-year period to 2.696 trillion rupiah from 2.989 trillion rupiah, and total operating expenses increased 7.3% year over year to 1.977 trillion rupiah from 1.842 trillion rupiah.
The company said reported net income fell 37.5% year over year to 496.71 billion rupiah, or 235.74 rupiah per share, in the full year, from 794.71 billion rupiah, or 377.18 rupiah per share.
As of March 24, US$1 was equivalent to 13,295 rupiah.