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Middle & West Delta Flour Mills fiscal Q3 profit climbs 26.0% YOY

Middle & West Delta Flour Mills Co. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.03 Egyptian pounds per share, an increase of 26.0% from 1.61 pounds per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.2 million pounds, an increase of 26.0% from 12.1 million pounds in the prior-year period.

The normalized profit margin climbed to 1.8% from 1.5% in the year-earlier period.

Total revenue climbed year over year to 857.9 million pounds from 822.5 million pounds, and total operating expenses grew on an annual basis to 818.4 million pounds from 787.8 million pounds.

Reported net income totaled a loss of 3.2 million pounds, or a loss of 42 piastres per share, compared to income of 6.0 million pounds, or 81 piastres per share, in the prior-year period.

As of May 12, US$1 was equivalent to 7.64 Egyptian pounds.