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Metcash profit misses consensus by 16.7% in fiscal H1

Metcash Ltd. said its normalized net income for the fiscal first half ended Oct. 31 was 10 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS fell 8.0% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$88.1 million, a decline of 6.7% from A$94.4 million in the prior-year period.

Total revenue grew year over year to A$6.65 billion from A$6.58 billion, and total operating expenses climbed on an annual basis to A$6.48 billion from A$6.40 billion.

Reported net income decreased year over year to A$102.1 million, or 11 cents per share, from A$107.3 million, or 12 cents per share.