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El Nasr Manufacturing swings to loss in fiscal Q2

El Nasr for Manufacturing Agricultural Crops SAE said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 12 Egyptian piastres per share, compared with 17 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 923,220 pounds, compared with income of 1.4 million pounds in the prior-year period.

Reported net income totaled a loss of 1.3 million pounds, or a loss of 17 piastres per share, compared to income of 3.3 million pounds, or 42 piastres per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to 7.15 Egyptian pounds.