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Keells Food Products fiscal Q3 profit climbs YOY

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Keells Food Products fiscal Q3 profit climbs YOY

Keells Food Products PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2.78 Sri Lankan rupees per share, a gain from 94 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 70.9 million rupees, a gain from 24.0 million rupees in the year-earlier period.

The normalized profit margin increased to 9.8% from 3.7% in the year-earlier period.

Total revenue increased 12.3% on an annual basis to 721.7 million rupees from 642.4 million rupees, and total operating expenses came to 606.9 million rupees, compared with 603.7 million rupees in the year-earlier period.

Reported net income totaled 91.2 million rupees, or 3.58 rupees per share, compared to a loss of 111.9 million rupees, or a loss of 4.39 rupees per share, in the year-earlier period.

As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.