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Sir Royalty Income Fund Q3 profit climbs 6.9% YOY

Sir Royalty Income Fund said its normalized net income for the third quarter amounted to 19 Canadian cents per share, an increase from 19 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.9 million, a gain of 6.9% from C$1.8 million in the prior-year period.

The normalized profit margin increased to 60.7% from 60.6% in the year-earlier period.

Total revenue climbed 6.8% year over year to C$3.2 million from C$3.0 million, and total operating expenses grew from the prior-year period to C$94,000 from C$90,770.

Reported net income rose 5.6% year over year to C$3.0 million, or 30 cents per share, from C$2.8 million, or 29 cents per share.