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Agthia Group profit misses consensus by 37.5% in Q2

Agthia Group PJSC said its second-quarter normalized net income amounted to 7 United Arab Emirates fils per share, compared with the S&P Capital IQ consensus estimate of 11 fils per share.

EPS climbed 18.3% year over year from 6 fils.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.1 million dirhams, an increase of 17.7% from 34.9 million dirhams in the prior-year period.

The normalized profit margin climbed to 8.6% from 8.1% in the year-earlier period.

Total revenue climbed 10.1% year over year to 476.0 million dirhams from 432.5 million dirhams, and total operating expenses climbed 8.1% on an annual basis to 408.1 million dirhams from 377.6 million dirhams.

Reported net income rose 17.7% year over year to 65.7 million dirhams, or 11 fils per share, from 55.8 million dirhams, or 9 fils per share.

As of July 30, US$1 was equivalent to 3.67 United Arab Emirates dirhams.