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Greene King fiscal H2 profit falls YOY

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Greene King fiscal H2 profit falls YOY

Greene King PLC said its normalized net income for the fiscal second half ended May 3 amounted to 24 Great British pence per share, a decrease from 25 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 £53.7 million, a decline from £54.7 million in the prior-year period.

Total revenue came to £700.4 million, compared with £706.2 million in the year-earlier period, and total operating expenses totaled £569.5 million, compared with £570.3 million in the prior-year period.

Reported net income declined 8.7% on an annual basis to £25.1 million, or 11 pence per share, from £27.4 million, or 13 pence per share.

For the year, the company's normalized net income totaled 48 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 60 pence.

EPS declined from 50 pence in the prior year.

Normalized net income was £105.3 million, a decline from £108.2 million in the prior year.

Full-year total revenue rose on an annual basis to £1.32 billion from £1.30 billion, and total operating expenses increased on an annual basis to £1.06 billion from £1.04 billion.

The company said reported net income decreased 7.1% year over year to £89.3 million, or 41 pence per share, in the full year, from £96.1 million, or 44 pence per share.