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Emirates Refreshments Q3 profit climbs YOY

Emirates Refreshments (P.S.C.) said its normalized net income for the third quarter was 1.9 million dirhams, a rise from 184,070 dirhams in the year-earlier period.

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

The normalized profit margin climbed to 10.0% from 1.0% in the year-earlier period.

Total revenue climbed on an annual basis to 19.3 million dirhams from 19.0 million dirhams, and total operating expenses declined 12.7% from the prior-year period to 16.4 million dirhams from 18.8 million dirhams.

Reported net income increased on an annual basis to 2.5 million dirhams, or 8 fils per share, from 294,510 dirhams, or 1 fils per share.

As of Nov. 12, US$1 was equivalent to 3.67 United Arab Emirates dirhams.