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Anhui Conch Cement profit misses consensus by 19.1% in Q1

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Anhui Conch Cement profit misses consensus by 19.1% in Q1

Anhui Conch Cement Co. Ltd. said its normalized net income for the first quarter came to 32 fen per share, compared with the S&P Capital IQ consensus estimate of 40 fen per share.

EPS rose 89.9% year over year from 17 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.71 billion yuan, a gain of 89.9% from 902.8 million yuan in the prior-year period.

The normalized profit margin rose to 12.6% from 8.5% in the year-earlier period.

Total revenue grew 28.6% year over year to 13.64 billion yuan from 10.61 billion yuan, and total operating expenses rose 21.2% on an annual basis to 11.39 billion yuan from 9.40 billion yuan.

Reported net income rose 86.4% year over year to 2.15 billion yuan, or 41 fen per share, from 1.16 billion yuan, or 22 fen per share.

As of April 25, US$1 was equivalent to 6.89 yuan.