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CJ Cheiljedang profit misses consensus by 18.0% in Q1

CJ Cheiljedang Corp. said its first-quarter normalized net income was 5,536.69 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 6,750.16 won per share.

EPS rose 62.5% year over year from 3,407.57 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 78.75 billion won, a gain of 59.7% from 49.33 billion won in the year-earlier period.

The normalized profit margin increased to 2.5% from 1.7% in the year-earlier period.

Total revenue increased 10.6% year over year to 3.120 trillion won from 2.822 trillion won, and total operating expenses increased 7.0% from the prior-year period to 2.895 trillion won from 2.704 trillion won.

Reported net income increased 83.5% from the prior-year period to 92.26 billion won, or 6,486.00 won per share, from 50.26 billion won, or 3,472.31 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.