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Dongfeng Motor Group profit misses consensus by 31.4% in H1

Dongfeng Motor Group Co. Ltd. said its normalized net income for the first half was 54 fen per share, compared with the S&P Capital IQ consensus estimate of 78 fen per share.

EPS rose year over year from 52 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.61 billion yuan, a gain from 4.47 billion yuan in the year-earlier period.

Total revenue totaled 57.69 billion yuan, compared with 57.14 billion yuan in the prior-year period, and total operating expenses climbed year over year to 57.69 billion yuan from 56.78 billion yuan.

Reported net income rose from the prior-year period to 7.04 billion yuan, or 82 fen per share, from 6.75 billion yuan, or 78 fen per share.

As of Sept. 28, US$1 was equivalent to 6.67 yuan.