PT Tiga Pilar Sejahtera Food Tbk said its fourth-quarter normalized net income was 21.86 rupiah per share, a gain of 9.8% from 19.91 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 70.37 billion rupiah, an increase of 9.8% from 64.07 billion rupiah in the year-earlier period.
The normalized profit margin climbed to 4.7% from 4.3% in the year-earlier period.
Total revenue rose on an annual basis to 1.507 trillion rupiah from 1.477 trillion rupiah, and total operating expenses totaled 1.308 trillion rupiah, compared with 1.316 trillion rupiah in the year-earlier period.
Reported net income declined 19.1% year over year to 68.64 billion rupiah, or 21.32 rupiah per share, from 84.81 billion rupiah, or 26.35 rupiah per share.
For the year, the company's normalized net income totaled 81.55 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 118.51 rupiah.
EPS was 81.94 rupiah in the prior year.
Normalized net income was 262.46 billion rupiah, a rise of 6.8% from 245.82 billion rupiah in the prior year.
Full-year total revenue increased 16.9% year over year to 6.011 trillion rupiah from 5.140 trillion rupiah, and total operating expenses rose 17.8% year over year to 5.276 trillion rupiah from 4.480 trillion rupiah.
The company said reported net income declined on an annual basis to 323.44 billion rupiah, or 100.49 rupiah per share, in the full year, from 331.70 billion rupiah, or 110.57 rupiah per share.
As of April 8, US$1 was equivalent to 13,110 rupiah.