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AA PLC fiscal Q1 profit falls YOY

AA PLC said its normalized net income for the fiscal first quarter ended April 30 was 4 Great British pence per share, a decrease of 57.2% from 10 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 £19.4 million, a decline of 57.2% from £45.3 million in the year-earlier period.

The normalized profit margin fell to 8.1% from 19.0% in the year-earlier period.

Total revenue came to £239.3 million, compared with £238.2 million in the year-earlier period, and total operating expenses fell on an annual basis to £150.3 million from £154.9 million.

Reported net income fell 56.8% year over year to £23.5 million, or 5 pence per share, from £54.4 million, or 12 pence per share.