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Indo Kordsa Q4 profit climbs YOY

PT Indo Kordsa Tbk said its fourth-quarter normalized net income amounted to $4.9 million, an increase from $1.0 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 9.4% from 2.0% in the year-earlier period.

Total revenue grew year over year to $51.8 million from $51.0 million, and total operating expenses decreased 9.4% year over year to $43.2 million from $47.7 million.

Reported net income increased on an annual basis to $6.3 million, or 1 cents per share, from $2.4 million, or 1 cents per share.

For the year, the company's normalized net income totaled 2 cents per share, a decrease of 16.3% from 2 cents per share in the prior year.

Normalized net income was $9.3 million, a decline of 16.3% from $11.1 million in the prior year.

Full-year total revenue amounted to $207.9 million, compared with $207.7 million in the prior year, and total operating expenses came to $184.2 million, compared with $185.1 million in the year-earlier period.

The company said reported net income declined 27.4% year over year to $10.4 million, or 2 cents per share, in the full year, from $14.3 million, or 3 cents per share.