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Food Empire Holdings Q3 profit climbs YOY

Food Empire Holdings Ltd. said its normalized net income for the third quarter amounted to $4.3 million, a rise from $97,750 in the year-earlier period.

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

The normalized profit margin climbed to 6.5% from 0.2% in the year-earlier period.

Total revenue increased 10.7% year over year to $68.3 million from $61.7 million, and total operating expenses rose 9.6% year over year to $60.3 million from $55.0 million.

Reported net income increased on an annual basis to $5.8 million, or 1 cents per share, from $586,020, or 0 cents per share.