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Harboes Bryggeri fiscal Q2 profit climbs 36.3% YOY

Harboes Bryggeri A/S said its normalized net income for the fiscal second quarter ended Oct. 31 was 1.17 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 1.03 kroner per share.

EPS increased 50.9% year over year from 78 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.7 million kroner, a gain of 36.3% from 4.2 million kroner in the year-earlier period.

The normalized profit margin climbed to 1.7% from 1.2% in the year-earlier period.

Total revenue decreased 5.4% on an annual basis to 341.8 million kroner from 361.3 million kroner, and total operating expenses declined 6.2% from the prior-year period to 331.4 million kroner from 353.2 million kroner.

Reported net income rose 49.9% on an annual basis to 6.4 million kroner, or 1.31 kroner per share, from 4.3 million kroner, or 79 øre per share.

As of Dec. 17, US$1 was equivalent to 6.00 Danish kroner.