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B&M European Value profit misses consensus by 23.6% in fiscal H1

B&M European Value Retail SA said its normalized net income for the fiscal first half ended Sept. 26 came to 4 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 5 pence per share.

EPS increased 84.1% year over year from 2 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £40.4 million, an increase of 84.2% from £21.9 million in the year-earlier period.

Total revenue grew 25.8% on an annual basis to £930.3 million from £739.8 million, and total operating expenses rose 26.6% on an annual basis to £853.2 million from £674.1 million.

Reported net income totaled £52.0 million, or 5 pence per share, compared to a loss of £21.0 million, or a loss of 2 pence per share, in the prior-year period.