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CJ Cheiljedang profit misses consensus by 59.3% in Q2

CJ Cheiljedang Corp. said its second-quarter normalized net income came to 3,164.16 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 7,765.61 won per share.

EPS climbed 28.0% year over year from 2,471.27 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 44.77 billion won, a gain of 37.4% from 32.57 billion won in the year-earlier period.

The normalized profit margin increased to 1.4% from 1.2% in the year-earlier period.

Total revenue climbed 11.9% year over year to 3.165 trillion won from 2.827 trillion won, and total operating expenses grew 10.0% year over year to 2.973 trillion won from 2.704 trillion won.

Reported net income increased 93.2% year over year to 51.84 billion won, or 3,664.00 won per share, from 26.83 billion won, or 2,035.50 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.