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Bevo Agro fiscal Q3 profit climbs 7.8% YOY

Bevo Agro Inc. said its normalized net income for the fiscal third quarter ended March 31 came to 2 Canadian cents per share, a gain of 7.8% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$425,710, a gain of 7.8% from C$394,850 in the year-earlier period.

The normalized profit margin rose to 8.8% from 7.7% in the year-earlier period.

Total revenue decreased 5.4% on an annual basis to C$4.9 million from C$5.1 million, and total operating expenses fell 7.8% year over year to C$3.9 million from C$4.3 million.

Reported net income increased 14.1% on an annual basis to C$504,040, or 2 cents per share, from C$441,620, or 2 cents per share.