East Delta Flour Mills said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 1.08 Egyptian pounds per share, a decrease of 29.4% from 1.53 pounds per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.5 million pounds, a decrease of 29.4% from 9.2 million pounds in the year-earlier period.
The normalized profit margin fell to 1.1% from 1.8% in the year-earlier period.
Total revenue rose 16.9% on an annual basis to 610.5 million pounds from 522.2 million pounds, and total operating expenses climbed 18.5% year over year to 602.1 million pounds from 508.3 million pounds.
Reported net income fell 40.1% from the prior-year period to 8.5 million pounds, or 1.42 pounds per share, from 14.2 million pounds, or 2.37 pounds per share.
As of Feb. 5, US$1 was equivalent to 7.63 Egyptian pounds.
