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Inner Mongolia Yili profit misses consensus by 25.9% in Q1

Inner Mongolia Yili Industrial Group Co., Ltd said its first-quarter normalized net income was 15 fen per share, compared with the S&P Capital IQ consensus estimate of 21 fen per share.

EPS increased 21.6% year over year from 13 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 928.0 million yuan, a gain of 18.9% from 780.3 million yuan in the prior-year period.

The normalized profit margin increased to 6.4% from 6.0% in the year-earlier period.

Total revenue rose 14.4% on an annual basis to 14.99 billion yuan from 13.11 billion yuan, and total operating expenses rose 11.4% from the prior-year period to 13.39 billion yuan from 12.02 billion yuan.

Reported net income increased 20.2% year over year to 1.30 billion yuan, or 22 fen per share, from 1.08 billion yuan, or 18 fen per share.

As of April 24, US$1 was equivalent to 6.19 yuan.