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Koninklijke Wessanen Q4 profit climbs YOY

Koninklijke Wessanen NV said its fourth-quarter normalized net income was €4.6 million, a rise from €187,500 in the year-earlier period.

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

The normalized profit margin increased to 3.4% from 0.2% in the year-earlier period.

Total revenue grew 27.2% on an annual basis to €133.9 million from €105.3 million, and total operating expenses climbed 20.2% year over year to €126.4 million from €105.2 million.

Reported net income came to €10.9 million, or 14 cents per share, compared to a loss of €942,100, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 27 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 27 cents.

EPS rose 65.0% from 17 cents in the prior year.

Normalized net income was €20.9 million, a gain of 64.5% from €12.7 million in the prior year.

Full-year total revenue grew 21.5% on an annual basis to €523.0 million from €430.6 million, and total operating expenses grew 19.2% on an annual basis to €487.4 million from €408.9 million.

The company said reported net income increased year over year to €28.2 million, or 37 cents per share, in the full year, from €11.5 million, or 15 cents per share.