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Jardine Cycle & Carriage profit misses consensus by 43.8% in Q2

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Jardine Cycle & Carriage profit misses consensus by 43.8% in Q2

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.