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KappAhl profit misses consensus by 24.0% in fiscal Q1

KappAhl AB said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 72 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 95 öre per share.

In the prior-year period, the per-share result was a profit of 72 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.4 million kronor, compared with 54.4 million kronor in the year-earlier period.

The normalized profit margin increased to 4.6% from 4.4% in the year-earlier period.

Total revenue decreased 5.6% on an annual basis to 1.17 billion kronor from 1.24 billion kronor, and total operating expenses decreased 5.7% on an annual basis to 1.08 billion kronor from 1.14 billion kronor.

Reported net income decreased year over year to 61.2 million kronor, or 81 öre per share, from 62.3 million kronor, or 83 öre per share.

As of Jan. 14, US$1 was equivalent to 8.06 Swedish kronor.