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Greencore Group profit misses consensus by 52.7% in fiscal H1

Greencore Group plc said its normalized net income for the fiscal first half ended March 25 came to 4 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 8 pence per share.

EPS declined year over year from 4 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £16.1 million, a decrease from £16.4 million in the prior-year period.

Total revenue rose 8.1% year over year to £691.6 million from £639.8 million, and total operating expenses rose 7.9% on an annual basis to £654.8 million from £606.6 million.

Reported net income declined 21.3% year over year to £19.9 million, or 5 pence per share, from £25.2 million, or 6 pence per share.