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Shanghai International Airport Co. profit misses consensus by 15.1% in Q2

Shanghai International Airport Co. Ltd. said its second-quarter normalized net income came to 31 fen per share, compared with the S&P Capital IQ consensus estimate of 36 fen per share.

EPS climbed 16.2% year over year from 26 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 584.2 million yuan, an increase of 13.6% from 514.2 million yuan in the prior-year period.

The normalized profit margin increased to 33.2% from 32.7% in the year-earlier period.

Total revenue increased 12.0% year over year to 1.76 billion yuan from 1.57 billion yuan, and total operating expenses increased 14.3% year over year to 1.03 billion yuan from 899.2 million yuan.

Reported net income increased 15.3% on an annual basis to 765.6 million yuan, or 40 fen per share, from 664.1 million yuan, or 34 fen per share.

As of Aug. 26, US$1 was equivalent to 6.67 yuan.