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Wilmar International profit misses consensus by 37.1% in Q2

Wilmar International Ltd. said its normalized net income for the second quarter came to 2 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS climbed 15.4% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $141.8 million, an increase of 15.4% from $122.9 million in the year-earlier period.

The normalized profit margin climbed to 1.5% from 1.2% in the year-earlier period.

Total revenue decreased 11.7% year over year to $9.28 billion from $10.52 billion, and total operating expenses decreased 12.3% on an annual basis to $9.02 billion from $10.30 billion.

Reported net income grew 18.4% on an annual basis to $204.6 million, or 3 cents per share, from $172.8 million, or 3 cents per share.