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SSP Group profit misses consensus by 23.4% in fiscal H2

SSP Group PLC said its normalized net income for the fiscal second half ended Sept. 30, 2015, amounted to 7 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 10 pence per share.

EPS increased 43.5% year over year from 5 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £35.7 million, a gain of 97.2% from £18.1 million in the prior-year period.

Total revenue climbed year over year to £973.7 million from £961.3 million, and total operating expenses came to £904.3 million, compared with £895.4 million in the year-earlier period.

Reported net income came to £45.7 million, or 10 pence per share, compared to a loss of £17.8 million, or a loss of 5 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled 9 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 12 pence.

EPS rose 48.6% from 6 pence in the prior year.

Normalized net income was £41.1 million, a rise from £17.4 million in the prior year.

Full-year total revenue totaled £1.83 billion, compared with £1.83 billion in the prior year, and total operating expenses came to £1.74 billion, compared with £1.74 billion in the prior-year period.

The company said reported net income totaled £53.3 million, or 11 pence per share, in the full year, compared with a loss of £31.9 million, or a loss of 11 pence per share, the prior year.