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Imvescor Restaurant fiscal Q2 profit climbs YOY

Imvescor Restaurant Group Inc. said its normalized net income for the fiscal second quarter ended April 26 was 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS rose year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.9 million, an increase from C$1.9 million in the prior-year period.

The normalized profit margin climbed to 17.1% from 15.6% in the year-earlier period.

Total revenue declined 5.4% year over year to C$11.3 million from C$12.0 million, and total operating expenses decreased 8.7% year over year to C$7.7 million from C$8.5 million.

Reported net income grew 26.1% from the prior-year period to C$2.8 million, or 5 cents per share, from C$2.2 million, or 4 cents per share.