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Wilmar International profit misses consensus by 18.1% in Q1

Wilmar International Ltd. said its first-quarter normalized net income amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS rose 43.1% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $237.3 million, an increase of 43.3% from $165.6 million in the prior-year period.

The normalized profit margin increased to 2.2% from 1.8% in the year-earlier period.

Total revenue grew 17.4% on an annual basis to $10.57 billion from $9.00 billion, and total operating expenses increased 17.3% year over year to $10.19 billion from $8.68 billion.

Reported net income rose 50.2% on an annual basis to $360.7 million, or 6 cents per share, from $240.2 million, or 4 cents per share.