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Diageo profit misses consensus by 20.1% in fiscal H1

Diageo plc said its normalized net income for the fiscal first half ended Dec. 31, 2016, came to 48 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 60 pence per share.

EPS increased 25.3% year over year from 38 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £1.21 billion, an increase of 25.6% from £967.4 million in the prior-year period.

Total revenue grew 14.5% on an annual basis to £6.42 billion from £5.61 billion, and total operating expenses rose 12.3% year over year to £4.37 billion from £3.89 billion.

Reported net income grew 11.7% from the prior-year period to £1.57 billion, or 62 pence per share, from £1.41 billion, or 56 pence per share.