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Shanghai International Airport Co. profit misses consensus by 44.7% in Q3

Shanghai International Airport Co. Ltd. said its third-quarter normalized net income amounted to 25 fen per share, compared with the S&P Capital IQ consensus estimate of 46 fen per share.

EPS climbed 19.2% year over year from 21 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 488.9 million yuan, a gain of 20.5% from 405.7 million yuan in the prior-year period.

The normalized profit margin increased to 30.1% from 26.6% in the year-earlier period.

Total revenue climbed 6.6% year over year to 1.63 billion yuan from 1.53 billion yuan, and total operating expenses decreased year over year to 983.4 million yuan from 1.03 billion yuan.

Reported net income rose 15.0% year over year to 633.1 million yuan, or 33 fen per share, from 550.4 million yuan, or 29 fen per share.

As of Oct. 27, US$1 was equivalent to 6.35 yuan.