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Blue Power Group fiscal Q4 profit falls YOY

Blue Power Group Ltd. said its normalized net income for the fiscal fourth quarter ended April 30 was 7 Jamaican cents per share, a decrease of 70.2% from 25 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$4.2 million, a decrease of 70.5% from J$14.2 million in the year-earlier period.

The normalized profit margin declined to 1.6% from 5.3% in the year-earlier period.

Total revenue decreased year over year to J$259.9 million from J$265.9 million, and total operating expenses rose on an annual basis to J$252.7 million from J$244.5 million.

Reported net income decreased 73.4% year over year to J$6.0 million, or 11 cents per share, from J$22.7 million, or 40 cents per share.

For the year, the company's normalized net income totaled 78 cents per share, a decline of 24.2% from J$1.03 per share in the prior year.

Normalized net income was J$44.1 million, a fall of 24.2% from J$58.2 million in the prior year.

Full-year total revenue rose from the prior-year period to J$1.06 billion from J$1.05 billion, and total operating expenses increased on an annual basis to J$995.7 million from J$962.5 million.

The company said reported net income fell 24.9% on an annual basis to J$70.0 million, or J$1.24 per share, in the full year, from J$93.1 million, or J$1.65 per share.

As of Aug. 20, US$1 was equivalent to J$117.18.