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Anhui Conch Cement profit misses consensus by 18.4% in Q2

Anhui Conch Cement Co. Ltd. said its normalized net income for the second quarter amounted to 67 fen per share, compared with the S&P Capital IQ consensus estimate of 82 fen per share.

EPS climbed 102.2% year over year from 33 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.55 billion yuan, an increase of 100.2% from 1.77 billion yuan in the prior-year period.

The normalized profit margin climbed to 19.4% from 13.2% in the year-earlier period.

Total revenue increased 36.7% on an annual basis to 18.27 billion yuan from 13.37 billion yuan, and total operating expenses climbed 29.0% from the prior-year period to 13.37 billion yuan from 10.36 billion yuan.

Reported net income increased 107.4% year over year to 4.56 billion yuan, or 86 fen per share, from 2.20 billion yuan, or 41 fen per share.

As of Aug. 21, US$1 was equivalent to 6.67 yuan.