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Jiangsu Yanghe Brewery profit misses consensus by 18.2% in Q1

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Jiangsu Yanghe Brewery profit misses consensus by 18.2% in Q1

Jiangsu Yanghe Brewery JSC Ltd. said its normalized net income for the first quarter amounted to 1.52 yuan per share, compared with the S&P Capital IQ consensus estimate of 1.86 yuan per share.

EPS rose 11.8% year over year from 1.36 yuan.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.29 billion yuan, an increase of 11.8% from 2.05 billion yuan in the prior-year period.

The normalized profit margin climbed to 30.2% from 30.0% in the year-earlier period.

Total revenue climbed 10.9% year over year to 7.59 billion yuan from 6.84 billion yuan, and total operating expenses rose 10.4% on an annual basis to 4.05 billion yuan from 3.67 billion yuan.

Reported net income rose 11.7% from the prior-year period to 2.74 billion yuan, or 1.82 yuan per share, from 2.46 billion yuan, or 1.63 yuan per share.

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