Jerónimo Martins SGPS S.A. said its normalized net income for the second quarter came to 12 euro cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS climbed 7.7% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €76.7 million, an increase of 7.7% from €71.2 million in the year-earlier period.

The normalized profit margin increased to 2.1% from 2.1% in the year-earlier period.

Total revenue increased on an annual basis to €3.58 billion from €3.46 billion, and total operating expenses grew year over year to €3.45 billion from €3.33 billion.

Reported net income grew 11.8% year over year to €94.7 million, or 15 cents per share, from €84.7 million, or 13 cents per share.