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Distell profit misses consensus by 16.5% in fiscal H1

Distell Group Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to 3.96 rand per share, compared with the S&P Capital IQ consensus estimate of 4.74 rand per share.

EPS fell 7.8% year over year from 4.29 rand.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 867.9 million rand, a decline from 912.0 million rand in the prior-year period.

Total revenue increased 10.5% year over year to 11.00 billion rand from 9.95 billion rand, and total operating expenses increased 13.3% on an annual basis to 9.53 billion rand from 8.41 billion rand.

Reported net income declined 7.6% from the prior-year period to 990.3 million rand, or 4.52 rand per share, from 1.07 billion rand, or 5.04 rand per share.

As of Feb. 16, US$1 was equivalent to 11.65 rand.