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Scottish Salmon Co. profit beats consensusin Q2

The Scottish Salmon Co. PLC said its second-quarter normalized net income came to 7 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 2 pence per share.

The per-share result swung to a profit from the prior-year loss of 2 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £13.9 million, compared with a loss of £3.3 million in the year-earlier period.

The normalized profit margin rose to 48.7% from negative 10.6% in the year-earlier period.

Total revenue declined 8.7% on an annual basis to £28.5 million from £31.2 million, and total operating expenses decreased 84.5% year over year to £5.6 million from £35.9 million.

Reported net income came to £17.9 million, or 9 pence per share, compared to a loss of £3.9 million, or a loss of 2 pence per share, in the year-earlier period.