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Wuliangye Yibin profit misses consensus by 15.5% in Q2

Wuliangye Yibin Co. Ltd. said its second-quarter normalized net income amounted to 31 fen per share, compared with the S&P Capital IQ consensus estimate of 37 fen per share.

EPS rose 49.4% year over year from 21 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.19 billion yuan, a gain of 49.3% from 798.7 million yuan in the year-earlier period.

The normalized profit margin rose to 21.8% from 18.0% in the year-earlier period.

Total revenue increased 23.3% year over year to 5.46 billion yuan from 4.43 billion yuan, and total operating expenses increased 12.2% from the prior-year period to 3.67 billion yuan from 3.27 billion yuan.

Reported net income increased 40.1% from the prior-year period to 1.38 billion yuan, or 36 fen per share, from 983.7 million yuan, or 26 fen per share.

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