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Dustin Group profit misses consensus by 27.5% in fiscal Q2

Dustin Group AB said its normalized net income for the fiscal second quarter ended Feb. 28 was 65 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 90 öre per share.

EPS increased 10.1% year over year from 59 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 44.1 million kronor, an increase of 12.5% from 39.2 million kronor in the year-earlier period.

The normalized profit margin rose to 2.0% from 2.0% in the year-earlier period.

Total revenue grew 9.0% on an annual basis to 2.19 billion kronor from 2.01 billion kronor, and total operating expenses increased 9.4% on an annual basis to 2.09 billion kronor from 1.91 billion kronor.

Reported net income declined 43.8% on an annual basis to 25.1 million kronor, or 37 öre per share, from 44.6 million kronor, or 68 öre per share.

As of April 22, US$1 was equivalent to 8.73 Swedish kronor.