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Produce Investments fiscal H1 profit falls YOY

Produce Investments PLC said its normalized net income for the fiscal first half ended Dec. 27, 2014, came to 4 Great British pence per share, a decline of 69.8% from 14 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 £1.2 million, a decline of 63.9% from £3.3 million in the prior-year period.

Total revenue declined 9.9% year over year to £80.8 million from £89.6 million, and total operating expenses fell 6.6% year over year to £78.3 million from £83.8 million.

Reported net income declined 63.7% from the prior-year period to £1.4 million, or 5 pence per share, from £3.9 million, or 17 pence per share.