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Luzhou Laojiao Q2 profit climbs 23.1% YOY

Luzhou Laojiao Co. Ltd. said its second-quarter normalized net income came to 37 fen per share, compared with the S&P Capital IQ consensus estimate of 42 fen per share.

EPS rose 23.2% year over year from 30 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 518.7 million yuan, a gain of 23.1% from 421.2 million yuan in the prior-year period.

The normalized profit margin climbed to 21.2% from 20.4% in the year-earlier period.

Total revenue climbed 18.4% on an annual basis to 2.45 billion yuan from 2.07 billion yuan, and total operating expenses rose 16.6% year over year to 1.67 billion yuan from 1.43 billion yuan.

Reported net income grew 30.6% on an annual basis to 669.6 million yuan, or 48 fen per share, from 512.5 million yuan, or 37 fen per share.

As of Aug. 28, US$1 was equivalent to 6.63 yuan.