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Nanjing Xinjiekou Department Store Q4 profit climbs 78.5% YOY

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Nanjing Xinjiekou Department Store Q4 profit climbs 78.5% YOY

Nanjing Xinjiekou Department Store Co. Ltd. said its fourth-quarter normalized net income came to 62 fen per share, an increase of 54.7% from 40 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 536.9 million yuan, an increase of 78.5% from 300.8 million yuan in the prior-year period.

The normalized profit margin increased to 8.2% from 5.4% in the year-earlier period.

Total revenue grew 16.7% year over year to 6.52 billion yuan from 5.59 billion yuan, and total operating expenses rose 9.2% from the prior-year period to 5.48 billion yuan from 5.02 billion yuan.

Reported net income increased 83.9% from the prior-year period to 844.5 million yuan, or 98 fen per share, from 459.3 million yuan, or 62 fen per share.

For the year, the company's normalized net income totaled 37 fen per share, a decline of 15.6% from 44 fen per share in the prior year.

Normalized net income was 308.8 million yuan, a decline of 14.2% from 359.7 million yuan in the prior year.

Full-year total revenue rose year over year to 16.28 billion yuan from 15.85 billion yuan, and total operating expenses totaled 15.51 billion yuan, compared with 15.38 billion yuan in the year-earlier period.

The company said reported net income rose 9.1% year over year to 399.9 million yuan, or 48 fen per share, in the full year, from 366.5 million yuan, or 45 fen per share.

As of March 30, US$1 was equivalent to 6.89 yuan.