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Sir Royalty Income Fund Q2 profit climbs YOY

Sir Royalty Income Fund said its normalized net income for the second quarter amounted to 19 Canadian cents per share, compared with 19 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$1.9 million, a gain from C$1.9 million in the prior-year period.

The normalized profit margin climbed to 60.3% from 60.3% in the year-earlier period.

Total revenue increased year over year to C$3.2 million from C$3.1 million, and total operating expenses grew on an annual basis to C$112,410 from C$109,080.

Reported net income rose year over year to C$3.0 million, or 30 cents per share, from C$2.9 million, or 30 cents per share.