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North West Co. Inc. fiscal Q2 profit falls YOY

North West Co. Inc. said its normalized net income for the fiscal second quarter ended July 31 came to 31 Canadian cents per share, a decline of 6.2% from 33 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$15.3 million, a decrease of 6.1% from C$16.3 million in the prior-year period.

The normalized profit margin declined to 3.8% from 4.2% in the year-earlier period.

Total revenue climbed year over year to C$401.1 million from C$388.6 million, and total operating expenses climbed on an annual basis to C$375.0 million from C$360.9 million.

Reported net income declined 5.3% on an annual basis to C$17.1 million, or 35 cents per share, from C$18.0 million, or 37 cents per share.