Zambeef Products PLC said its normalized net income for the fiscal first half ended March 31 amounted to 46.8 million kwachas, compared with a loss of 337,630 kwachas in the prior-year period.

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

Total revenue climbed 70.0% on an annual basis to 1.12 billion kwachas from 659.8 million kwachas, and total operating expenses rose 69.6% year over year to 983.7 million kwachas from 580.1 million kwachas.

Reported net income came to 90.3 million kwachas, or 36 ngwee per share, compared to a loss of 24.4 million kwachas, or a loss of 10 ngwee per share, in the year-earlier period.

As of June 8, US$1 was equivalent to 10.70 Zambian kwachas.