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Jean Coutu Group fiscal Q2 profit climbs YOY

The Jean Coutu Group (PJC) Inc. said its normalized net income for the fiscal second quarter ended Aug. 29 was 25 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS rose year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$46.3 million, compared with C$45.9 million in the year-earlier period.

The normalized profit margin dropped to 7.0% from 7.1% in the year-earlier period.

Total revenue grew on an annual basis to C$661.8 million from C$650.4 million, and total operating expenses climbed on an annual basis to C$588.0 million from C$577.3 million.

Reported net income rose from the prior-year period to C$54.2 million, or 29 cents per share, from C$52.8 million, or 28 cents per share.