Middle Egypt Flour Mills said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 21 Egyptian piastres per share, compared with a loss of 6 piastres per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.0 million pounds, compared with a loss of 907,470 pounds in the prior-year period.
The normalized profit margin climbed to 0.8% from negative 0.2% in the year-earlier period.
Total revenue declined year over year to 513.9 million pounds from 539.8 million pounds, and total operating expenses fell 6.1% year over year to 508.1 million pounds from 541.3 million pounds.
Reported net income came to 2.9 million pounds, or 20 piastres per share, compared to a loss of 1.2 million pounds, or a loss of 8 piastres per share, in the prior-year period.
As of Feb. 13, US$1 was equivalent to 7.63 Egyptian pounds.
