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Golden Coast Q3 profit climbs 26.7% YOY

Golden Coast Co. said its third-quarter normalized net income came to 10 Egyptian piastres per share, an increase of 26.9% from 8 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.0 million pounds, a gain of 26.7% from 812,530 pounds in the year-earlier period.

The normalized profit margin increased to 38.2% from 30.9% in the year-earlier period.

Total revenue rose on an annual basis to 2.7 million pounds from 2.6 million pounds, and total operating expenses rose 8.8% from the prior-year period to 948,250 pounds from 871,250 pounds.

Reported net income increased 26.7% year over year to 1.6 million pounds, or 17 piastres per share, from 1.3 million pounds, or 13 piastres per share.

As of Nov. 12, US$1 was equivalent to 7.83 Egyptian pounds.