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Uniwax Q1 profit climbs YOY

Uniwax SA said its first-quarter normalized net income was 608.9 million francs, a gain from 215.2 million francs in the prior-year period.

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

The normalized profit margin rose to 6.6% from 2.8% in the year-earlier period.

Total revenue increased 19.6% year over year to 9.18 billion francs from 7.68 billion francs, and total operating expenses increased 11.5% on an annual basis to 8.05 billion francs from 7.21 billion francs.

Reported net income totaled 974.4 million francs, compared with 344.3 million francs in the prior-year period.

As of May 28, US$1 was equivalent to 602.60 West African CFA francs.