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Shanghai International Airport Co. profit misses consensus by 16.1% in Q1

Shanghai International Airport Co. Ltd. said its first-quarter normalized net income was 31 fen per share, compared with the S&P Capital IQ consensus estimate of 38 fen per share.

EPS climbed 24.4% year over year from 25 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 607.5 million yuan, an increase of 23.6% from 491.4 million yuan in the prior-year period.

The normalized profit margin climbed to 32.1% from 30.0% in the year-earlier period.

Total revenue rose 15.8% year over year to 1.90 billion yuan from 1.64 billion yuan, and total operating expenses rose 7.6% year over year to 1.10 billion yuan from 1.03 billion yuan.

Reported net income rose 23.5% on an annual basis to 791.4 million yuan, or 41 fen per share, from 641.0 million yuan, or 33 fen per share.

As of April 27, US$1 was equivalent to 6.89 yuan.