Suez Canal Co. for Technology Settling (SAE) said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 47 Egyptian piastres per share, a decrease of 17.5% from 56 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 42.3 million pounds, a decrease of 17.2% from 51.0 million pounds in the prior-year period.
The normalized profit margin fell to 115.2% from 194.5% in the year-earlier period.
Total revenue came to 26.3 million pounds, and total operating expenses totaled 4.7 million pounds.
Reported net income decreased 14.6% on an annual basis to 59.8 million pounds, or 66 piastres per share, from 70.1 million pounds, or 77 piastres per share.
As of Jan. 12, US$1 was equivalent to 7.15 Egyptian pounds.
