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ALRA Processing Q1 loss widens YOY

Atlas for Land Reclamation & Agricultural Processing SAE said its normalized net income for the first quarter was a loss of 6 Egyptian piastres per share, compared with a loss of 6 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 276,660 pounds, compared with a loss of 112,720 pounds in the year-earlier period.

Reported net income totaled a loss of 490,140 pounds, or a loss of 10 piastres per share, compared to a loss of 162,150 pounds, or a loss of 8 piastres per share, in the prior-year period.

As of May 14, US$1 was equivalent to 7.63 Egyptian pounds.