Alexandria Flour Mills & Bakeries Co. said its normalized net income for the fiscal third quarter ended March 31 was 1.28 Egyptian pounds per share, a gain of 16.1% from 1.10 pounds per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.3 million pounds, a gain of 16.1% from 8.8 million pounds in the prior-year period.
The normalized profit margin rose to 3.2% from 2.6% in the year-earlier period.
Total revenue decreased 6.7% year over year to 315.7 million pounds from 338.5 million pounds, and total operating expenses decreased 7.4% on an annual basis to 301.6 million pounds from 325.9 million pounds.
Reported net income grew 18.3% from the prior-year period to 12.4 million pounds, or 1.55 pounds per share, from 10.5 million pounds, or 1.31 pounds per share.
As of May 12, US$1 was equivalent to 7.64 Egyptian pounds.
