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Koninklijke Wessanen profit beats consensus by 34.1% in Q1

Koninklijke Wessanen NV said its normalized net income for the first quarter came to 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS increased 37.6% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €7.1 million, an increase of 37.3% from €5.2 million in the prior-year period.

The normalized profit margin rose to 5.4% from 4.0% in the year-earlier period.

Total revenue increased year over year to €131.7 million from €129.6 million, and total operating expenses totaled €119.5 million, compared with €120.4 million in the year-earlier period.

Reported net income rose 46.5% year over year to €7.8 million, or 10 cents per share, from €5.3 million, or 7 cents per share.