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Lesieur Cristal H2 profit falls YOY

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Lesieur Cristal H2 profit falls YOY

Lesieur Cristal SA said its second-half normalized net income was 3.33 Moroccan dirhams per share, an increase of 8.8% from 3.06 dirhams per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 91.9 million dirhams, a decline of 5.2% from 96.9 million dirhams in the year-earlier period.

Total revenue increased 6.8% on an annual basis to 2.12 billion dirhams from 1.98 billion dirhams, and total operating expenses grew 7.4% year over year to 1.96 billion dirhams from 1.83 billion dirhams.

Reported net income rose 14.3% from the prior-year period to 112.0 million dirhams, or 4.06 dirhams per share, from 98.0 million dirhams, or 3.10 dirhams per share.

For the year, the company's normalized net income totaled 5.91 dirhams per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.26 dirhams.

EPS declined 23.0% from 7.68 dirhams in the prior year.

Normalized net income was 173.1 million dirhams, a fall of 21.1% from 219.4 million dirhams in the prior year.

Full-year total revenue grew from the prior-year period to 4.03 billion dirhams from 3.98 billion dirhams, and total operating expenses increased on an annual basis to 3.76 billion dirhams from 3.68 billion dirhams.

The company said reported net income came to 205.0 million dirhams, or 7.00 dirhams per share, in the full year, compared with 200.0 million dirhams, or 7.00 dirhams per share, the prior year.

As of May 19, US$1 was equivalent to 9.76 Moroccan dirhams.