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Greggs fiscal H1 profit climbs 51.2% YOY

Greggs PLC said its normalized net income for the fiscal first half ended July 4 was 15 Great British pence per share, a gain of 48.9% from 10 pence per share in the first half ended June 28, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £16.0 million, a gain of 51.2% from £10.6 million in the first half ended June 28, 2014.

Total revenue increased 6.4% year over year to £398.4 million from £374.4 million, and total operating expenses climbed year over year to £372.8 million from £357.5 million.

Reported net income increased on an annual basis to £20.1 million, or 20 pence per share, from £6.2 million, or 6 pence per share.