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SFCMC fiscal H2 profit climbs 28.7% YOY

Société Fermière du Casino Municipal de Cannes said its normalized net income for the fiscal second half ended Oct. 31, 2015, came to €105.05 per share, a gain of 28.7% from €81.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €18.4 million, a gain of 28.7% from €14.3 million in the prior-year period.

Total revenue rose 17.4% year over year to €85.9 million from €73.2 million, and total operating expenses increased 12.2% from the prior-year period to €55.4 million from €49.4 million.

Reported net income grew 28.8% from the prior-year period to €18.9 million, or €107.70 per share, from €14.6 million, or €83.62 per share.

For the year, the company's normalized net income totaled €85.89 per share, a gain of 41.4% from €60.75 per share in the prior year.

Normalized net income was €15.0 million, a rise of 41.4% from €10.6 million in the prior year.

Full-year total revenue rose 12.8% from the prior-year period to €118.1 million from €104.7 million, and total operating expenses increased 7.4% year over year to €93.1 million from €86.7 million.

The company said reported net income rose 42.0% on an annual basis to €15.5 million, or €88.32 per share, in the full year, from €10.9 million, or €62.22 per share.