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Quantum Foods fiscal H1 profit falls YOY

Quantum Foods Holdings Ltd. said its normalized net income for the fiscal first half ended March 31 amounted to 12 South African cents per share, a decrease of 45.7% from 22 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 28.3 million rand, a decline of 45.6% from 52.1 million rand in the prior-year period.

Total revenue rose 7.9% year over year to 1.81 billion rand from 1.67 billion rand, and total operating expenses rose 10.4% from the prior-year period to 1.76 billion rand from 1.60 billion rand.

Reported net income decreased year over year to 60.7 million rand, or 26 cents per share, from 62.2 million rand, or 27 cents per share.

As of May 25, US$1 was equivalent to 15.70 rand.