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Corby Spirit & Wine fiscal Q1 profit climbs 29.2% YOY

Corby Spirit & Wine Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 19 Canadian cents per share, an increase of 29.2% from 15 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$5.4 million, a gain of 29.2% from C$4.2 million in the prior-year period.

The normalized profit margin climbed to 14.9% from 12.1% in the year-earlier period.

Total revenue climbed year over year to C$36.5 million from C$34.8 million, and total operating expenses decreased on an annual basis to C$28.1 million from C$28.5 million.

Reported net income increased 29.4% year over year to C$6.3 million, or 22 cents per share, from C$4.8 million, or 17 cents per share.