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Delmon Poultry Q3 loss widens 37.1% YOY

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Delmon Poultry Q3 loss widens 37.1% YOY

Delmon Poultry Co. BSC said its third-quarter normalized net income was a loss of 157,530 Bahraini dinars, compared with a loss of 114,900 dinars in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 4.7% from negative 6.1% in the year-earlier period.

Total revenue increased 76.1% year over year to 3.3 million dinars from 1.9 million dinars, and total operating expenses grew 70.7% on an annual basis to 3.5 million dinars from 2.1 million dinars.

Reported net income came to a loss of 167,110 dinars, or a loss of 5 fils per share, compared to a loss of 200,230 dinars, or a loss of 7 fils per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 380 Bahraini fils.