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Anhui Conch Cement profit misses consensus by 18.1% in Q3

Anhui Conch Cement Co. Ltd. said its third-quarter normalized net income came to 47 fen per share, compared with the S&P Capital IQ consensus estimate of 57 fen per share.

EPS climbed 22.6% year over year from 38 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.49 billion yuan, a gain of 22.5% from 2.03 billion yuan in the year-earlier period.

The normalized profit margin fell to 13.7% from 14.5% in the year-earlier period.

Total revenue increased 29.7% on an annual basis to 18.13 billion yuan from 13.98 billion yuan, and total operating expenses climbed 28.7% from the prior-year period to 14.05 billion yuan from 10.92 billion yuan.

Reported net income grew 18.3% from the prior-year period to 3.09 billion yuan, or 58 fen per share, from 2.61 billion yuan, or 49 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.