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Rhodes Food Group profit misses consensus by 15.6% in fiscal H1

Rhodes Food Group Holdings Ltd. said its normalized net income for the fiscal first half ended March 27 was 41 South African cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS increased 65.2% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 93.4 million rand, an increase of 64.5% from 56.8 million rand in the year-earlier period.

Total revenue rose 53.5% year over year to 1.99 billion rand from 1.29 billion rand, and total operating expenses climbed 50.4% on an annual basis to 1.81 billion rand from 1.21 billion rand.

Reported net income grew 86.4% year over year to 109.7 million rand, or 48 cents per share, from 58.9 million rand, or 26 cents per share.

As of May 23, US$1 was equivalent to 15.77 rand.