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Greencross profit misses consensus by 18.5% in fiscal H2

Greencross Ltd. said its normalized net income for the fiscal second half ended June 30 was 14 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS rose year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$15.4 million, an increase from A$4.3 million in the year-earlier period.

Total revenue climbed 53.8% year over year to A$337.3 million from A$219.3 million, and total operating expenses rose 47.8% from the prior-year period to A$302.1 million from A$204.5 million.

Reported net income came to A$16.5 million, or 15 cents per share, compared to a loss of A$131.6 million, or a loss of A$1.57 per share, in the prior-year period.

For the year, the company's normalized net income totaled 22 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 34 cents.

EPS rose 74.7% from 13 cents in the prior year.

Normalized net income was A$24.9 million, a rise from A$8.6 million in the prior year.

Full-year total revenue increased 74.1% from the prior-year period to A$645.0 million from A$370.4 million, and total operating expenses rose 70.3% on an annual basis to A$586.7 million from A$344.5 million.

The company said reported net income totaled A$19.1 million, or 17 cents per share, in the full year, compared with a loss of A$127.8 million, or a loss of A$1.91 per share, the prior year.