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Greencore Group profit misses consensus by 45.7% in fiscal H1

Greencore Group PLC said its normalized net income for the fiscal first half ended March 27 amounted to 4 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 7 pence per share.

EPS increased 8.9% year over year from 4 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £16.4 million, a gain of 10.3% from £14.9 million in the year-earlier period.

Total revenue grew on an annual basis to £639.8 million from £619.8 million, and total operating expenses climbed year over year to £606.6 million from £589.1 million.

Reported net income grew from the prior-year period to £25.2 million, or 6 pence per share, from £11.4 million, or 3 pence per share.