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Jean Coutu Group fiscal Q1 profit climbs YOY

The Jean Coutu Group (PJC) Inc. said its normalized net income for the fiscal first quarter ended May 30 amounted to 25 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS climbed year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$47.4 million, a gain from C$46.4 million in the prior-year period.

The normalized profit margin dropped to 6.9% from 7.0% in the year-earlier period.

Total revenue climbed on an annual basis to C$687.7 million from C$664.5 million, and total operating expenses rose on an annual basis to C$612.3 million from C$590.5 million.

Reported net income decreased 8.0% on an annual basis to C$50.5 million, or 27 cents per share, from C$54.9 million, or 29 cents per share.