Guinness Ghana Breweries Ltd said its normalized net income for the fiscal third quarter ended March 31 was 6.7 million cedis, compared with a loss of 7.2 million cedis in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 6.3% from negative 8.3% in the year-earlier period.
Total revenue increased 22.5% year over year to 106.3 million cedis from 86.8 million cedis, and total operating expenses climbed 9.3% from the prior-year period to 105.1 million cedis from 96.2 million cedis.
Reported net income totaled a loss of 10.7 million cedis, compared with a loss of 11.8 million cedis in the prior-year period.
As of April 28, US$1 was equivalent to 3.85 cedis.
