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Sunora Foods Q2 profit falls YOY

Sunora Foods Inc. said its second-quarter normalized net income was C$47,620, a fall of 46.4% from C$88,870 in the year-earlier period.

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

The normalized profit margin fell to 1.7% from 2.7% in the year-earlier period.

Total revenue decreased 12.3% year over year to C$2.8 million from C$3.2 million, and total operating expenses declined 8.9% year over year to C$2.8 million from C$3.1 million.

Reported net income decreased 66.8% from the prior-year period to C$42,250, or 0 cents per share, from C$127,310, or 0 cents per share.