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Ocado Group profit misses consensus by 71.6% in fiscal H2

4246275 said its normalized net income for the fiscal second half ended Nov. 29, 2015, amounted to £2.1 million, a gain of 26.9% from £1.6 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed 15.5% on an annual basis to £599.9 million from £519.2 million, and total operating expenses grew 15.7% on an annual basis to £592.8 million from £512.2 million.

Reported net income totaled £4.6 million, or 1 pence per share, compared to a loss of £185,260, or a loss of 0 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled 1 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2 pence.

EPS rose from 1 pence in the prior year.

Normalized net income was £6.6 million, an increase from £6.3 million in the prior year.

ull-year total revenue rose 16.7% on an annual basis to £1.11 billion from £948.9 million, and total operating expenses rose 16.9% year over year to £1.09 billion from Ocado Group PLC