A&W Revenue Royalties Income Fund said its normalized net income for the fiscal second quarter ended June 14 amounted to 35 Canadian cents per share, a gain of 64.0% from 22 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$4.3 million, a gain of 64.0% from C$2.6 million in the year-earlier period.

The normalized profit margin increased to 57.5% from 39.6% in the year-earlier period.

Total revenue rose 12.8% year over year to C$7.5 million from C$6.6 million, and total operating expenses declined 21.2% year over year to C$82,000 from C$104,000.

Reported net income rose 66.4% from the prior-year period to C$5.9 million, or 49 cents per share, from C$3.6 million, or 29 cents per share.