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Sweet River fiscal Q3 profit falls YOY

Sweet River Abattoir & Supplies Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was J$561,390, a decline of 86.2% from J$4.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.6% from 4.4% in the year-earlier period.

Total revenue declined 63.0% year over year to J$34.6 million from J$93.5 million, and total operating expenses decreased 61.0% from the prior-year period to J$33.7 million from J$86.3 million.

Reported net income fell 83.6% from the prior-year period to J$898,230, or 1 cents per share, from J$5.5 million, or 11 cents per share.

As of Feb. 13, US$1 was equivalent to J$115.50.