The Keg Royalties Income Fund said its fourth-quarter normalized net income amounted to 29 Canadian cents per share, an increase from 7 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$3.3 million, an increase from C$749,380 in the prior-year period.

The normalized profit margin climbed to 44.0% from 11.8% in the year-earlier period.

Total revenue climbed 17.8% year over year to C$7.5 million from C$6.3 million, and total operating expenses climbed 24.3% year over year to C$138,000 from C$111,000.

Reported net income rose from the prior-year period to C$4.0 million, or 35 cents per share, from C$194,000, or 2 cents per share.

For the year, the company's normalized net income totaled 87 cents per share, an increase of 37.0% from 63 cents per share in the prior year.

Normalized net income was C$9.9 million, an increase of 37.0% from C$7.2 million in the prior year.

Full-year total revenue increased 9.4% on an annual basis to C$27.5 million from C$25.2 million, and total operating expenses increased 6.6% year over year to C$435,000 from C$408,000.

The company said reported net income grew 49.4% year over year to C$11.2 million, or 99 cents per share, in the full year, from C$7.5 million, or 66 cents per share.