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Bogo-Medellin Milling fiscal Q3 profit climbs YOY

Bogo-Medellin Milling Co. Inc. said its normalized net income for the fiscal third quarter ended June 30 was 1.15 Philippine pesos per share, a gain from 7 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.9 million pesos, a gain from 438,750 pesos in the year-earlier period.

The normalized profit margin increased to 4.9% from 0.7% in the year-earlier period.

Total revenue rose year over year to 141.9 million pesos from 66.8 million pesos, and total operating expenses rose 96.7% on an annual basis to 130.9 million pesos from 66.5 million pesos.

Reported net income totaled 7.4 million pesos, or 1.23 pesos per share, compared to a loss of 2.7 million pesos, or a loss of 45 centavos per share, in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 46.43 Philippine pesos.