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Thomas Cook Group profit holds mostly steady YOY in fiscal H2

Thomas Cook Group PLC said its normalized net income for the fiscal second half ended Sept. 30, 2015, was 16 Great British pence per share, a decrease of 5.9% from 17 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £238.3 million, compared with £239.3 million in the year-earlier period.

Total revenue fell 8.7% year over year to £5.09 billion from £5.58 billion, and total operating expenses fell 9.3% from the prior-year period to £4.62 billion from £5.09 billion.

Reported net income rose 32.4% year over year to £325.8 million, or 21 pence per share, from £246.0 million, or 17 pence per share.

For the year, the company's normalized net income totaled 6 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 9 pence.

EPS declined 5.7% from 6 pence in the prior year.

Normalized net income was £87.1 million, a decline from £89.5 million in the prior year.

Full-year total revenue declined 8.8% on an annual basis to £7.83 billion from £8.59 billion, and total operating expenses fell 9.0% on an annual basis to £7.54 billion from £8.29 billion.

The company said reported net income came to £23.8 million, or 2 pence per share, in the full year, compared with a loss of £118.0 million, or a loss of 8 pence per share, the prior year.