Zambeef Products PLC said its normalized net income for the fiscal full year ended Sept. 30 came to 22 ngwee per share, compared with a loss of 10 ngwee per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 56.3 million kwachas, compared with a loss of 24.0 million kwachas in the year-earlier period.

The normalized profit margin climbed to 2.4% from negative 1.5% in the year-earlier period.

Total revenue climbed 52.8% year over year to 2.38 billion kwachas from 1.55 billion kwachas, and total operating expenses climbed 59.3% from the prior-year period to 2.20 billion kwachas from 1.38 billion kwachas.

Reported net income totaled 103.5 million kwachas, or 41 ngwee per share, compared to a loss of 49.2 million kwachas, or a loss of 20 ngwee per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 9.86 Zambian kwachas.