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Keg Royalties Income Fund Q3 profit climbs YOY

The Keg Royalties Income Fund said its third-quarter normalized net income came to 33 Canadian cents per share, an increase from 13 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$4.9 million, an increase from C$1.5 million in the prior-year period.

The normalized profit margin increased to 72.3% from 23.6% in the year-earlier period.

Total revenue grew 6.7% on an annual basis to C$6.7 million from C$6.3 million, and total operating expenses grew from the prior-year period to C$105,000 from C$103,000.

Reported net income increased from the prior-year period to C$4.0 million, or 27 cents per share, from C$1.4 million, or 12 cents per share.