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Metro Spinning fiscal H1 profit falls YOY

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Metro Spinning fiscal H1 profit falls YOY

Metro Spinning Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 16 poisha per share, a decline of 49.3% from 31 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.4 million taka, a decline of 49.8% from 18.8 million taka in the year-earlier period.

Total revenue fell 5.3% year over year to 447.7 million taka from 472.6 million taka, and total operating expenses totaled 366.0 million taka, compared with 366.9 million taka in the prior-year period.

Reported net income decreased 48.2% year over year to 13.0 million taka, or 22 poisha per share, from 25.2 million taka, or 42 poisha per share.

As of Feb. 5, US$1 was equivalent to 77.78 taka.