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Produce Investments fiscal H1 profit climbs 55.7% YOY


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Produce Investments fiscal H1 profit climbs 55.7% YOY

Produce Investments PLC said its normalized net income for the fiscal first half ended Dec. 26, 2015, was 7 Great British pence per share, an increase of 62.5% from 4 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £1.9 million, a gain of 55.7% from £1.2 million in the year-earlier period.

Total revenue fell on an annual basis to £78.5 million from £80.8 million, and total operating expenses decreased from the prior-year period to £75.1 million from £78.3 million.

Reported net income totaled a loss of £211,000, or a loss of 1 pence per share, compared to income of £1.4 million, or 5 pence per share, in the prior-year period.