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Sheeni fiscal Q2 profit climbs YOY

General Co. for Ceramic & Porcelain Products said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 7 Egyptian piastres per share, a gain from 4 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.5 million pounds, a gain from 1.8 million pounds in the prior-year period.

The normalized profit margin rose to 6.2% from 4.3% in the year-earlier period.

Total revenue rose 40.3% year over year to 57.3 million pounds from 40.9 million pounds, and total operating expenses rose 35.9% year over year to 52.0 million pounds from 38.3 million pounds.

Reported net income fell from the prior-year period to 4.2 million pounds, or 8 piastres per share, from 4.3 million pounds, or 9 piastres per share.

As of Feb. 9, US$1 was equivalent to 7.83 Egyptian pounds.