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PZ Cussons Ghana fiscal Q2 profit climbs YOY

PZ Cussons Ghana Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to 2.7 million cedis, an increase from 36,480 cedis in the prior-year period.

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

The normalized profit margin rose to 9.0% from 0.1% in the year-earlier period.

Total revenue grew 19.6% year over year to 30.0 million cedis from 25.1 million cedis, and total operating expenses decreased year over year to 24.3 million cedis from 24.8 million cedis.

Reported net income increased year over year to 4.3 million cedis, or 5 pesewas per share, from 58,370 cedis, or 0 pesewas per share.

As of Feb. 5, US$1 was equivalent to 3.35 cedis.