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North West Co. Inc. fiscal Q1 profit falls YOY

North West Co. Inc. said its normalized net income for the fiscal first quarter ended April 30 was 23 Canadian cents per share, a decrease from 24 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$11.3 million, a decrease from C$11.7 million in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.2% in the year-earlier period.

Total revenue rose on an annual basis to C$376.3 million from C$364.5 million, and total operating expenses grew on an annual basis to C$356.4 million from C$344.2 million.

Reported net income declined on an annual basis to C$12.7 million, or 26 cents per share, from C$13.1 million, or 27 cents per share.