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Delmon Poultry Q3 profit climbs 62.5% YOY

Delmon Poultry Co. BSC said its normalized net income for the third quarter amounted to 173,800 Bahraini dinars, an increase of 62.5% from 106,930 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 5.3% from 3.5% in the year-earlier period.

Total revenue grew 8.3% on an annual basis to 3.3 million dinars from 3.0 million dinars, and total operating expenses climbed year over year to 3.2 million dinars from 3.1 million dinars.

Reported net income rose 58.8% from the prior-year period to 260,410 dinars, or 8 fils per share, from 163,990 dinars, or 5 fils per share.

As of Nov. 11, US$1 was equivalent to 380 Bahraini fils.