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Flour Mills Kepenos Q3 profit falls YOY

Flour Mills Kepenos SA said its third-quarter normalized net income was 2 euro cents per share, a decrease of 76.1% from 7 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €106,740, a decrease of 76.1% from €445,940 in the year-earlier period.

The normalized profit margin declined to 1.3% from 4.8% in the year-earlier period.

Total revenue decreased 11.6% on an annual basis to €8.2 million from €9.3 million, and total operating expenses fell 6.8% from the prior-year period to €7.9 million from €8.5 million.

Reported net income fell 74.8% from the prior-year period to €133,640, or 2 cents per share, from €529,280, or 8 cents per share.