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Misr Poultry Q1 profit climbs YOY

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Misr Poultry Q1 profit climbs YOY

Ismailia/Misr Poultry Co. SAE said its normalized net income for the first quarter came to 1.8 million pounds, a rise from 189,960 pounds in the year-earlier period.

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

The normalized profit margin rose to 2.8% from 0.3% in the year-earlier period.

Total revenue increased 18.0% year over year to 64.0 million pounds from 54.3 million pounds, and total operating expenses climbed 15.5% on an annual basis to 59.2 million pounds from 51.3 million pounds.

Reported net income grew from the prior-year period to 3.2 million pounds, or 4 piastres per share, from 537,820 pounds, or 1 piastres per share.

As of May 13, US$1 was equivalent to 7.63 Egyptian pounds.