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Lenta profit misses consensus by 68.4% in H2

Lenta Ltd. said its normalized net income for the second half amounted to 11.81 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 37.42 rubles per share.

EPS declined year over year from 12.13 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.75 billion rubles, compared with 5.74 billion rubles in the year-earlier period.

Total revenue climbed 20.6% on an annual basis to 166.27 billion rubles from 137.87 billion rubles, and total operating expenses climbed 22.4% from the prior-year period to 152.35 billion rubles from 124.44 billion rubles.

Reported net income fell 6.1% from the prior-year period to 6.88 billion rubles, or 14.13 rubles per share, from 7.32 billion rubles, or 15.46 rubles per share.

For the year, the company's normalized net income totaled 19.03 rubles per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 24.30 rubles.

EPS rose 8.1% from 17.60 rubles in the prior year.

Normalized net income was 9.26 billion rubles, an increase of 14.0% from 8.12 billion rubles in the prior year.

Full-year total revenue grew 21.2% from the prior-year period to 306.35 billion rubles from 252.76 billion rubles, and total operating expenses increased 22.6% year over year to 282.39 billion rubles from 230.31 billion rubles.

The company said reported net income rose 8.9% on an annual basis to 11.20 billion rubles, or 23.02 rubles per share, in the full year, from 10.29 billion rubles, or 22.30 rubles per share.

As of Feb. 16, US$1 was equivalent to 57.56 Russian rubles.