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El Nasr Clothing & Textiles fiscal Q1 loss narrows YOY


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El Nasr Clothing & Textiles fiscal Q1 loss narrows YOY

El Nasr Clothing & Textiles Co. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 1.1 million pounds, compared with a loss of 4.8 million pounds in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 11.9% from negative 7.2% in the year-earlier period.

Total revenue climbed 34.6% year over year to 89.4 million pounds from 66.4 million pounds, and total operating expenses grew 31.1% from the prior-year period to 96.9 million pounds from 73.9 million pounds.

Reported net income totaled a loss of 6.2 million pounds, or a loss of 2 piastres per share, compared to a loss of 11.3 million pounds, or a loss of 3 piastres per share, in the prior-year period.

As of Nov. 26, US$1 was equivalent to 7.83 Egyptian pounds.