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Hengan International profit misses consensus by 27.3% in H2

Hengan International Group Co. Ltd. said its normalized net income for the second half was 1.16 yuan per share, compared with the S&P Capital IQ consensus estimate of 1.60 yuan per share.

EPS fell 8.1% year over year from 1.26 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.40 billion yuan, a decrease of 8.9% from 1.54 billion yuan in the prior-year period.

Total revenue grew on an annual basis to 9.70 billion yuan from 9.47 billion yuan, and total operating expenses climbed 5.1% on an annual basis to 7.25 billion yuan from 6.90 billion yuan.

Reported net income came to 1.69 billion yuan, or 1.40 yuan per share, compared to 1.68 billion yuan, or 1.38 yuan per share, in the prior-year period.

For the year, the company's normalized net income totaled 2.24 yuan per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.98 yuan.

EPS declined from 2.30 yuan in the prior year.

Normalized net income was 2.72 billion yuan, a decline from 2.81 billion yuan in the prior year.

Full-year total revenue rose year over year to 19.28 billion yuan from 18.66 billion yuan, and total operating expenses increased year over year to 14.53 billion yuan from 13.85 billion yuan.

The company said reported net income grew year over year to 3.32 billion yuan, or 2.73 yuan per share, in the full year, from 3.21 billion yuan, or 2.62 yuan per share.

As of April 10, US$1 was equivalent to 6.91 yuan.