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Texhong Textile profit misses consensus by 17.2% in H1

Texhong Textile Group Ltd. said its normalized net income for the first half was 25 fen per share, compared with the S&P Capital IQ consensus estimate of 30 fen per share.

EPS climbed year over year from 10 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 219.8 million yuan, an increase from 84.2 million yuan in the year-earlier period.

Total revenue increased 6.2% on an annual basis to 4.85 billion yuan from 4.57 billion yuan, and total operating expenses grew year over year to 4.37 billion yuan from 4.27 billion yuan.

Reported net income rose year over year to 292.8 million yuan, or 33 fen per share, from 124.7 million yuan, or 14 fen per share.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.