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Lontrue swings to profit in Q4

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Lontrue swings to profit in Q4

Lontrue Co. Ltd. said its fourth-quarter normalized net income amounted to 2 fen per share, compared with a loss of 3 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 10.2 million yuan, compared with a loss of 15.7 million yuan in the prior-year period.

The normalized profit margin climbed to 1.6% from negative 9.4% in the year-earlier period.

Total revenue climbed 69.2% on an annual basis to 283.5 million yuan from 167.6 million yuan, and total operating expenses grew 42.3% on an annual basis to 251.8 million yuan from 176.9 million yuan.

Reported net income came to 10.5 million yuan, or 2 fen per share, compared to a loss of 12.0 million yuan, or a loss of 3 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 5 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 12 fen.

EPS declined 53.3% from 10 fen in the prior year.

Normalized net income was 22.0 million yuan, a fall of 53.6% from 47.5 million yuan in the prior year.

Full-year total revenue grew year over year to 846.5 million yuan from 809.2 million yuan, and total operating expenses rose 8.5% year over year to 776.1 million yuan from 715.2 million yuan.

The company said reported net income declined 59.4% year over year to 35.6 million yuan, or 8 fen per share, in the full year, from 87.7 million yuan, or 19 fen per share.

As of Feb. 25, US$1 was equivalent to 6.54 yuan.