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Jerí³nimo Martins profit misses consensus by 16.5% in Q1

Jerónimo Martins SGPS SA said its first-quarter normalized net income amounted to 8 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS climbed year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €52.8 million, a gain from €50.4 million in the year-earlier period.

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

Total revenue increased 9.4% on an annual basis to €3.19 billion from €2.91 billion, and total operating expenses rose 9.7% on an annual basis to €3.09 billion from €2.82 billion.

Reported net income rose on an annual basis to €64.8 million, or 10 cents per share, from €62.4 million, or 10 cents per share.