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Myer Holdings profit misses consensus by 24.6% in fiscal H1

Myer Holdings Ltd. said its normalized net income for the fiscal first half ended Jan. 24 was 9 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS decreased 23.4% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$55.5 million, a decline of 23.0% from A$72.1 million in the year-earlier period.

Total revenue increased on an annual basis to A$1.55 billion from A$1.52 billion, and total operating expenses climbed from the prior-year period to A$1.45 billion from A$1.39 billion.

Reported net income decreased 23.1% from the prior-year period to A$62.2 million, or 11 cents per share, from A$80.8 million, or 14 cents per share.