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Qiaqia Food profit beats consensus by 26.3% in Q2

Qiaqia Food Co. Ltd. said its second-quarter normalized net income amounted to 13 fen per share, compared with the S&P Capital IQ consensus estimate of 10 fen per share.

EPS increased 37.3% year over year from 9 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 67.3 million yuan, an increase of 42.2% from 47.4 million yuan in the year-earlier period.

The normalized profit margin climbed to 9.6% from 6.5% in the year-earlier period.

Total revenue grew on an annual basis to 742.9 million yuan from 726.9 million yuan, and total operating expenses decreased year over year to 659.0 million yuan from 677.2 million yuan.

Reported net income increased 42.2% year over year to 76.7 million yuan, or 15 fen per share, from 53.9 million yuan, or 11 fen per share.

As of July 29, US$1 was equivalent to 6.21 yuan.