Central Azucarera de Tarlac said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 18 Philippine centavos per share, an increase from 4 centavos per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 51.4 million pesos, an increase from 9.9 million pesos in the year-earlier period.
The normalized profit margin declined to 4.2% from 4.9% in the year-earlier period.
Total revenue climbed 11.2% on an annual basis to 226.4 million pesos from 203.6 million pesos, and total operating expenses declined 18.9% on an annual basis to 141.3 million pesos from 174.3 million pesos.
Reported net income increased on an annual basis to 33.0 million pesos, or 12 centavos per share, from 15.9 million pesos, or 6 centavos per share.
As of Feb. 24, US$1 was equivalent to 44.12 Philippine pesos.
