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Dairy Crest profit misses consensus by 45.4% in fiscal H2

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Dairy Crest profit misses consensus by 45.4% in fiscal H2

Dairy Crest Group PLC said its normalized net income for the fiscal second half ended March 31 was £17.6 million.

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

Total revenue came to £647.7 million, and total operating expenses totaled £615.3 million.

Reported net income came to £19.8 million, or 14 pence per share.

For the year, the company's normalized net income totaled 19 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 37 pence.

EPS declined 11.3% from 21 pence in the prior year.

Normalized net income was £25.6 million, a decrease of 11.6% from £29.0 million in the prior year.

Full-year total revenue fell from the prior-year period to £1.33 billion from £1.39 billion, and total operating expenses declined on an annual basis to £1.28 billion from £1.33 billion.

The company said reported net income decreased 57.9% on an annual basis to £20.5 million, or 15 pence per share, in the full year, from £48.7 million, or 35 pence per share.