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Young & Co.'s Brewery fiscal H2 profit climbs 20.4% YOY

Young & Co.'s Brewery PLC said its normalized net income for the fiscal second half ended March 30 amounted to 18 Great British pence per share, a gain of 20.0% from 15 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £8.5 million, a gain of 20.4% from £7.1 million in the prior-year period.

Total revenue grew 7.6% year over year to £110.4 million from £102.6 million, and total operating expenses increased 6.8% on an annual basis to £94.5 million from £88.5 million.

Reported net income rose 39.6% on an annual basis to £12.0 million, or 25 pence per share, from £8.6 million, or 18 pence per share.

For the year, the company's normalized net income totaled 41 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 50 pence.

EPS rose 17.3% from 35 pence in the prior year.

Normalized net income was £20.0 million, an increase of 17.6% from £17.0 million in the prior year.

Full-year total revenue grew 7.7% on an annual basis to £227.0 million from £210.8 million, and total operating expenses grew 6.6% on an annual basis to £189.8 million from £178.0 million.

The company said reported net income rose 20.8% on an annual basis to £26.7 million, or 55 pence per share, in the full year, from £22.1 million, or 46 pence per share.