Weichai's FY14 results slightly miss analysts' expectations

No thanks to dismal profit from one segment.

Weichai Power reported FY14 financial results on 30 March with EPS of RMB2.51.

According to a research note from Barclays, further, excluding a non-recurrent gain of RMB1,622mn in the acquisition gain of KION, its re-concurrent EPS would be RMb1.90.

This means an increase of 7% y/y but missing Barclays' forecast by 5%.

Barclays noted that most of the miss was due to lower-than-expected operating profit at Weichai’s diesel engine segment as a result of the 0.8ppt lower operating profit margin.