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Jays AB profit misses consensus by 74.3% in fiscal Q2

Jays Group AB (publ) said its normalized net income for the fiscal second quarter ended Oct. 31 came to 13 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 49 öre per share.

EPS decreased 58.5% year over year from 30 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 921,290 kronor, a decrease of 58.5% from 2.2 million kronor in the year-earlier period.

The normalized profit margin declined to 4.1% from 10.5% in the year-earlier period.

Total revenue rose 5.2% on an annual basis to 22.2 million kronor from 21.1 million kronor, and total operating expenses climbed 14.1% year over year to 20.1 million kronor from 17.6 million kronor.

Reported net income fell 58.5% year over year to 1.5 million kronor, or 20 öre per share, from 3.5 million kronor, or 48 öre per share.

As of Dec. 17, US$1 was equivalent to 7.67 Swedish kronor.