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Anhui Conch Cement profit beats consensus by 16.7% in Q2

Anhui Conch Cement Co. Ltd. said its second-quarter normalized net income was 43 fen per share, compared with the S&P Capital IQ consensus estimate of 37 fen per share.

EPS decreased 12.4% year over year from 49 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.27 billion yuan, a decrease of 13.9% from 2.63 billion yuan in the year-earlier period.

The normalized profit margin climbed to 19.2% from 16.3% in the year-earlier period.

Total revenue decreased 19.6% on an annual basis to 12.99 billion yuan from 16.15 billion yuan, and total operating expenses fell 5.4% year over year to 11.09 billion yuan from 11.72 billion yuan.

Reported net income fell 10.6% on an annual basis to 2.99 billion yuan, or 57 fen per share, from 3.35 billion yuan, or 63 fen per share.

As of Aug. 21, US$1 was equivalent to 6.39 yuan.