Jardine Cycle & Carriage Ltd. said its second-quarter normalized net income was 25 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.
In the prior-year period, the per-share result came in at a profit of 25 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $99.9 million, a decrease from $100.9 million in the year-earlier period.
The normalized profit margin declined to 2.3% from 2.5% in the year-earlier period.
Total revenue rose 5.7% year over year to $4.29 billion from $4.05 billion, and total operating expenses grew 5.9% year over year to $3.92 billion from $3.70 billion.
Reported net income came to $188.7 million, or 48 cents per share, compared with $187.0 million, or 47 cents per share, in the prior-year period.