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National Flour Mills Q2 profit climbs YOY

National Flour Mills Ltd. said its second-quarter normalized net income amounted to 8 Trinidad and Tobago cents per share, a gain from 3 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 TT$8.9 million, an increase from TT$3.3 million in the year-earlier period.

The normalized profit margin rose to 7.2% from 2.9% in the year-earlier period.

Total revenue climbed 9.6% year over year to TT$123.6 million from TT$112.8 million, and total operating expenses rose on an annual basis to TT$108.8 million from TT$105.5 million.

Reported net income grew year over year to TT$11.6 million, or 10 cents per share, from TT$4.9 million, or 4 cents per share.

As of July 23, US$1 was equivalent to TT$6.35.