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PBC Ltd. fiscal Q3 loss widens 79.8% YOY

PBC Ltd said its normalized net income for the fiscal third quarter ended June 30 was a loss of 2 pesewas per share, compared with a loss of 1 pesewas per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.5 million cedis, compared with a loss of 5.9 million cedis in the year-earlier period.

The normalized profit margin dropped to negative 4.2% from negative 3.5% in the year-earlier period.

Total revenue increased 48.1% year over year to 248.3 million cedis from 167.6 million cedis, and total operating expenses climbed 48.1% year over year to 247.8 million cedis from 167.4 million cedis.

Reported net income totaled a loss of 13.8 million cedis, or a loss of 3 pesewas per share, compared to a loss of 8.1 million cedis, or a loss of 2 pesewas per share, in the year-earlier period.

As of July 30, US$1 was equivalent to 3.75 cedis.