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Premium Brands fiscal Q2 profit climbs 52.6% YOY

Premium Brands Holdings Corp. said its normalized net income for the fiscal second quarter ended June 27 was 39 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS increased 38.5% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$9.5 million, an increase of 52.6% from C$6.2 million in the prior-year period.

The normalized profit margin increased to 2.6% from 1.9% in the year-earlier period.

Total revenue rose 14.2% year over year to C$368.1 million from C$322.3 million, and total operating expenses rose 13.3% from the prior-year period to C$347.2 million from C$306.3 million.

Reported net income came to a loss of C$10.5 million, or a loss of 43 cents per share, compared to income of C$3.8 million, or 17 cents per share, in the prior-year period.