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Universal Robina profit misses consensus by 27.6% in fiscal Q3

Universal Robina Corp. said its normalized net income for the fiscal third quarter ended June 30 amounted to 1.11 Philippine pesos per share, compared with the S&P Capital IQ consensus estimate of 1.54 pesos per share.

EPS rose 24.8% year over year from 89 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.44 billion pesos, a gain of 24.5% from 1.96 billion pesos in the year-earlier period.

The normalized profit margin increased to 9.3% from 8.3% in the year-earlier period.

Total revenue increased 11.9% on an annual basis to 26.30 billion pesos from 23.50 billion pesos, and total operating expenses increased 10.6% on an annual basis to 22.09 billion pesos from 19.98 billion pesos.

Reported net income grew 30.0% on an annual basis to 3.10 billion pesos, or 1.42 pesos per share, from 2.39 billion pesos, or 1.09 pesos per share.

As of Aug. 7, US$1 was equivalent to 45.76 Philippine pesos.