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C. W. Mackie fiscal Q2 profit climbs 47.3% YOY

C. W. Mackie PLC said its normalized net income for the fiscal second quarter ended Sept. 30 was 1.65 Sri Lankan rupees per share, an increase of 47.5% from 1.12 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 59.3 million rupees, a gain of 47.3% from 40.2 million rupees in the prior-year period.

The normalized profit margin climbed to 3.4% from 2.0% in the year-earlier period.

Total revenue decreased 10.6% year over year to 1.76 billion rupees from 1.96 billion rupees, and total operating expenses declined 11.5% from the prior-year period to 1.68 billion rupees from 1.89 billion rupees.

Reported net income increased 42.3% year over year to 65.2 million rupees, or 1.81 rupees per share, from 45.8 million rupees, or 1.27 rupees per share.

As of Nov. 9, US$1 was equivalent to 141.93 Sri Lankan rupees.