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United Foods Q1 profit climbs 32.6% YOY

4916094 said its normalized net income for the first quarter amounted to 13 United Arab Emirates fils per share, a gain of 32.6% from 10 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.0 million dirhams, an increase of 32.6% from 3.0 million dirhams in the prior-year period.

The normalized profit margin climbed to 4.1% from 3.0% in the year-earlier period.

Total revenue declined on an annual basis to 99.3 million dirhams from 103.1 million dirhams, and total operating expenses decreased 5.7% from the prior-year period to 92.9 million dirhams from 98.5 million dirhams.

eported net income increased 32.6% on an annual basis to 6.5 million d United Foods Co. (PSC)