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Bureau Veritas profit misses consensus by 21.5% in H1

Bureau Veritas SA said its normalized net income for the first half amounted to 35 euro cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS decreased 6.9% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €152.1 million, a decrease of 7.1% from €163.6 million in the year-earlier period.

Total revenue grew 6.2% year over year to €2.36 billion from €2.22 billion, and total operating expenses climbed 7.1% year over year to €2.04 billion from €1.91 billion.

Reported net income declined 13.2% year over year to €137.8 million, or 31 cents per share, from €158.7 million, or 36 cents per share.