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Good Hope fiscal Q3 profit climbs 23.0% YOY

Good Hope PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 93 Sri Lankan cents per share, a gain of 22.6% from 76 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 6.4 million rupees, an increase of 23.0% from 5.2 million rupees in the year-earlier period.

The normalized profit margin climbed to 62.5% from 19.9% in the year-earlier period.

Total revenue decreased 7.0% on an annual basis to 24.4 million rupees from 26.2 million rupees, and total operating expenses fell 21.1% on an annual basis to 14.1 million rupees from 17.9 million rupees.

Reported net income decreased 57.1% from the prior-year period to 5.4 million rupees, or 79 cents per share, from 12.7 million rupees, or 1.85 rupees per share.

As of Feb. 12, US$1 was equivalent to 144.09 Sri Lankan rupees.