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Zhejiang Supor profit misses consensus by 23.6% in Q1

Zhejiang Supor Co. Ltd. said its first-quarter normalized net income amounted to 21 fen per share, compared with the S&P Capital IQ consensus estimate of 27 fen per share.

EPS increased 18.0% year over year from 17 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 169.4 million yuan, a gain of 18.0% from 143.6 million yuan in the year-earlier period.

The normalized profit margin rose to 5.9% from 5.5% in the year-earlier period.

Total revenue increased 15.8% year over year to 3.01 billion yuan from 2.60 billion yuan, and total operating expenses grew 15.3% on an annual basis to 2.71 billion yuan from 2.35 billion yuan.

Reported net income increased 21.7% from the prior-year period to 230.6 million yuan, or 28 fen per share, from 189.5 million yuan, or 23 fen per share.

As of April 22, US$1 was equivalent to 6.19 yuan.