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Total Produce profit misses consensus by 40.8% in H1

Total Produce PLC said its first-half normalized net income amounted to 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS climbed year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €11.1 million, compared with €11.2 million in the prior-year period.

Total revenue rose 11.0% year over year to €1.59 billion from €1.43 billion, and total operating expenses grew 11.1% from the prior-year period to €1.57 billion from €1.41 billion.

Reported net income fell on an annual basis to €15.2 million, or 5 cents per share, from €15.5 million, or 5 cents per share.