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Luzhou Laojiao profit misses consensus by 18.8% in Q2

Luzhou Laojiao Co. Ltd. said its second-quarter normalized net income amounted to 30 fen per share, compared with the S&P Capital IQ consensus estimate of 37 fen per share.

EPS climbed 13.7% year over year from 26 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 421.1 million yuan, a gain of 13.8% from 369.9 million yuan in the prior-year period.

The normalized profit margin fell to 20.4% from 20.7% in the year-earlier period.

Total revenue increased 15.0% on an annual basis to 2.05 billion yuan from 1.79 billion yuan, and total operating expenses came to 1.41 billion yuan, compared with 1.40 billion yuan in the prior-year period.

Reported net income increased 7.3% on an annual basis to 518.1 million yuan, or 37 fen per share, from 483.1 million yuan, or 34 fen per share.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.