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Andrew Peller fiscal Q2 profit climbs 30.2% YOY

Andrew Peller Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 14 Canadian cents per share, an increase of 30.2% from 11 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$5.9 million, a gain of 30.2% from C$4.5 million in the year-earlier period.

The normalized profit margin increased to 6.9% from 5.5% in the year-earlier period.

Total revenue grew year over year to C$85.2 million from C$82.8 million, and total operating expenses totaled C$75.6 million, compared with C$75.5 million in the prior-year period.

Reported net income rose 39.4% on an annual basis to C$7.0 million, or 16 cents per share, from C$5.0 million, or 12 cents per share.