Egypt Free Shops Co. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 15 Egyptian piastres per share, a decrease from 15 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 13.8 million pounds, a decrease from 14.1 million pounds in the prior-year period.
The normalized profit margin declined to 14.9% from 20.1% in the year-earlier period.
Total revenue grew 23.2% on an annual basis to 86.7 million pounds from 70.4 million pounds, and total operating expenses grew 34.9% year over year to 67.0 million pounds from 49.7 million pounds.
Reported net income declined 20.5% from the prior-year period to 15.9 million pounds, or 17 piastres per share, from 20.0 million pounds, or 21 piastres per share.
As of Feb. 4, US$1 was equivalent to 7.63 Egyptian pounds.
