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President Chain Store profit misses consensus by 26.6% in Q2

President Chain Store Corp. said its second-quarter normalized net income was NT$1.59 per share, compared with the S&P Capital IQ consensus estimate of NT$2.16 per share.

EPS rose year over year from NT$1.56.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.65 billion, a gain from NT$1.62 billion in the year-earlier period.

The normalized profit margin fell to 3.2% from 3.2% in the year-earlier period.

Total revenue climbed on an annual basis to NT$51.39 billion from NT$49.94 billion, and total operating expenses increased year over year to NT$48.88 billion from NT$47.34 billion.

Reported net income declined from the prior-year period to NT$2.17 billion, or NT$2.08 per share, from NT$2.19 billion, or NT$2.11 per share.

As of Aug. 11, US$1 was equivalent to NT$32.22.