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BMTC Group profit misses consensus by 24.8% in Q2

BMTC Group Inc. said its normalized net income for the second quarter amounted to 24 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

In the prior-year period, the per-share result was a profit of 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$10.9 million, compared with C$10.9 million in the prior-year period.

The normalized profit margin declined to 5.8% from 6.0% in the year-earlier period.

Total revenue increased on an annual basis to C$188.4 million from C$182.9 million, and total operating expenses grew from the prior-year period to C$171.5 million from C$165.9 million.

Reported net income decreased 13.0% year over year to C$12.2 million, or 27 cents per share, from C$14.0 million, or 31 cents per share.