Arab Dairy Products Co. LLC said its first-quarter normalized net income came to 2 Egyptian piastres per share, compared with a loss of 7 piastres per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million pounds, compared with a loss of 4.3 million pounds in the prior-year period.
The normalized profit margin climbed to 1.0% from negative 3.1% in the year-earlier period.
Total revenue declined on an annual basis to 134.2 million pounds from 136.0 million pounds, and total operating expenses declined 10.6% year over year to 123.7 million pounds from 138.4 million pounds.
Reported net income totaled 1.6 million pounds, or 3 piastres per share, compared to a loss of 6.5 million pounds, or a loss of 11 piastres per share, in the prior-year period.
As of June 12, US$1 was equivalent to 7.63 Egyptian pounds.
