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Shoe Zone fiscal H1 profit falls YOY

Shoe Zone PLC said its normalized net income for the fiscal first half ended April 4 was 2 Great British pence per share, a decline of 26.7% from 3 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £1.3 million, a decrease of 26.7% from £1.7 million in the year-earlier period.

Total revenue fell 5.7% year over year to £78.2 million from £82.9 million, and total operating expenses declined 5.0% on an annual basis to £76.1 million from £80.1 million.

Reported net income fell 13.1% from the prior-year period to £1.6 million, or 3 pence per share, from £1.8 million, or 4 pence per share.