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Inner Mongolia Yili profit misses consensus by 32.7% in Q2

Inner Mongolia Yili Industrial Group Co., Ltd said its normalized net income for the second quarter was 16 fen per share, compared with the S&P Capital IQ consensus estimate of 24 fen per share.

EPS declined year over year from 17 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 987.7 million yuan, a decline from 1.03 billion yuan in the year-earlier period.

The normalized profit margin rose to 7.0% from 6.8% in the year-earlier period.

Total revenue fell year over year to 14.76 billion yuan from 15.16 billion yuan, and total operating expenses totaled 13.47 billion yuan, compared with 13.60 billion yuan in the year-earlier period.

Reported net income grew 21.9% on an annual basis to 1.66 billion yuan, or 27 fen per share, from 1.36 billion yuan, or 22 fen per share.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.