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C. W. Mackie fiscal Q3 profit falls YOY

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Investment Banking Essentials: February 21

C. W. Mackie fiscal Q3 profit falls YOY

C. W. Mackie PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.15 Sri Lankan rupees per share, a decrease from 1.20 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.2 million rupees, a decrease of 4.9% from 43.3 million rupees in the year-earlier period.

The normalized profit margin dropped to 2.3% from 2.4% in the year-earlier period.

Total revenue grew on an annual basis to 1.80 billion rupees from 1.78 billion rupees, and total operating expenses climbed on an annual basis to 1.73 billion rupees from 1.70 billion rupees.

Reported net income rose 11.2% on an annual basis to 38.4 million rupees, or 1.07 rupees per share, from 34.5 million rupees, or 96 cents per share.

As of Feb. 12, US$1 was equivalent to 144.09 Sri Lankan rupees.