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Quantum Foods fiscal H1 profit climbs YOY

Quantum Foods Holdings Ltd. said its normalized net income for the fiscal first half ended March 31 was 22 South African cents per share, a gain from 7 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 52.1 million rand, an increase from 15.9 million rand in the year-earlier period.

Total revenue decreased on an annual basis to 1.67 billion rand from 1.74 billion rand, and total operating expenses declined 6.8% on an annual basis to 1.60 billion rand from 1.71 billion rand.

Reported net income came to 62.2 million rand, or 27 cents per share, compared to a loss of 13.3 million rand, or a loss of 6 cents per share, in the year-earlier period.

As of May 25, US$1 was equivalent to 11.96 rand.