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Charoen Pokphand Foods profit misses consensus by 56.8% in Q2

Charoen Pokphand Foods Public Company Ltd said its second-quarter normalized net income amounted to 6 satang per share, compared with the S&P Capital IQ consensus estimate of 14 satang per share.

EPS decreased 74.7% year over year from 23 satang.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 436.3 million baht, a decline of 74.7% from 1.72 billion baht in the prior-year period.

The normalized profit margin declined to 0.4% from 1.6% in the year-earlier period.

Total revenue decreased year over year to 104.24 billion baht from 106.35 billion baht, and total operating expenses came to 101.49 billion baht, compared with 101.65 billion baht in the year-earlier period.

Reported net income declined 15.9% year over year to 2.98 billion baht, or 40 satang per share, from 3.55 billion baht, or 48 satang per share.

As of Aug. 11, US$1 was equivalent to 35.39 baht.