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3i Group fiscal Q4 profit falls YOY

3i Group Plc said its normalized net income for the fiscal fourth quarter ended March 31 was 18 Great British pence per share, a decrease of 10.9% from 20 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £175.6 million, a decrease of 10.5% from £196.3 million in the prior-year period.

The normalized profit margin dropped to 54.5% from 61.7% in the year-earlier period.

Total revenue grew on an annual basis to £322.0 million from £318.0 million, and total operating expenses rose 25.0% on an annual basis to £32.5 million from £26.0 million.

Reported net income decreased 9.1% on an annual basis to £291.7 million, or 30 pence per share, from £321.0 million, or 33 pence per share.

For the year, the company's normalized net income totaled 98 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of £1.21.

EPS rose from 53 pence in the prior year.

Normalized net income was £942.5 million, a gain from £505.6 million in the prior year.

Full-year total revenue increased year over year to £1.62 billion from £893.0 million, and total operating expenses grew year over year to £118.0 million from £102.0 million.

The company said reported net income grew year over year to £1.53 billion, or £1.58 per share, in the full year, from £792.0 million, or 83 pence per share.