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Prestige Holdings fiscal Q4 profit climbs 31.9% YOY

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Prestige Holdings fiscal Q4 profit climbs 31.9% YOY

Prestige Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, was 24 Trinidad and Tobago cents per share, an increase of 35.9% from 18 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$15.2 million, an increase of 31.9% from TT$11.6 million in the year-earlier period.

The normalized profit margin increased to 6.4% from 5.2% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to TT$239.4 million from TT$224.1 million, and total operating expenses rose 5.1% from the prior-year period to TT$212.9 million from TT$202.7 million.

Reported net income increased 30.7% year over year to TT$18.3 million, or 29 cents per share, from TT$14.0 million, or 22 cents per share.

For the year, the company's normalized net income totaled 81 cents per share, a gain of 12.6% from 72 cents per share in the prior year.

Normalized net income was TT$50.3 million, a rise of 12.6% from TT$44.7 million in the prior year.

Full-year total revenue rose on an annual basis to TT$962.6 million from TT$921.8 million, and total operating expenses rose year over year to TT$873.7 million from TT$838.2 million.

The company said reported net income rose 18.3% year over year to TT$59.5 million, or 96 cents per share, in the full year, from TT$50.3 million, or 81 cents per share.

As of Feb. 22, US$1 was equivalent to TT$6.49.