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L.D.C. SA fiscal H2 profit climbs 31.1% YOY

L.D.C. SA said its normalized net income for the fiscal second half ended Feb. 28 came to €3.87 per share, a gain of 28.5% from €3.01 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €63.7 million, a gain of 31.1% from €48.6 million in the prior-year period.

Total revenue came to €1.57 billion, compared with €1.56 billion in the prior-year period, and total operating expenses came to €1.48 billion, compared with €1.49 billion in the year-earlier period.

Reported net income increased 7.6% from the prior-year period to €53.4 million, or €3.24 per share, from €49.6 million, or €3.08 per share.

For the year, the company's normalized net income totaled €6.53 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €5.76.

EPS rose 33.6% from €4.89 in the prior year.

Normalized net income was €106.5 million, a rise of 34.9% from €79.0 million in the prior year.

Full-year total revenue totaled €3.03 billion, compared with €3.03 billion in the prior year, and total operating expenses fell on an annual basis to €2.86 billion from €2.90 billion.

The company said reported net income rose 24.4% on an annual basis to €96.4 million, or €5.92 per share, in the full year, from €77.5 million, or €4.80 per share.