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Guangdong Wens Foodstuff Q2 profit climbs 314.1% YOY

Guangdong Wens Foodstuff Group Co. Ltd. said its second-quarter normalized net income was 48 fen per share, compared with the S&P Capital IQ consensus estimate of 44 fen per share.

EPS climbed 298.6% year over year from 12 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.49 billion yuan, a gain of 314.1% from 600.5 million yuan in the year-earlier period.

The normalized profit margin rose to 17.0% from 5.6% in the year-earlier period.

Total revenue increased 39.0% year over year to 14.90 billion yuan from 10.72 billion yuan, and total operating expenses grew 8.1% from the prior-year period to 10.65 billion yuan from 9.85 billion yuan.

Reported net income rose 307.9% year over year to 4.13 billion yuan, or 79 fen per share, from 1.01 billion yuan, or 20 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.