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Lesieur Cristal H2 profit climbs 13.1% YOY

Lesieur Cristal SA said its normalized net income for the second half was 3.06 Moroccan dirhams per share, an increase of 9.8% from 2.79 dirhams per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 96.9 million dirhams, a gain of 13.1% from 85.6 million dirhams in the year-earlier period.

Total revenue grew on an annual basis to 1.98 billion dirhams from 1.92 billion dirhams, and total operating expenses increased year over year to 1.83 billion dirhams from 1.80 billion dirhams.

Reported net income grew year over year to 98.0 million dirhams, or 3.10 dirhams per share, from 95.0 million dirhams, or 3.09 dirhams per share.

For the year, the company's normalized net income totaled 7.68 dirhams per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 7.18 dirhams.

EPS rose 24.4% from 6.17 dirhams in the prior year.

Normalized net income was 219.4 million dirhams, a gain of 27.6% from 171.9 million dirhams in the prior year.

Full-year total revenue grew year over year to 3.98 billion dirhams from 3.82 billion dirhams, and total operating expenses grew year over year to 3.68 billion dirhams from 3.56 billion dirhams.

The company said reported net income totaled 200.0 million dirhams, or 7.00 dirhams per share, in the full year, compared with 195.0 million dirhams, or 7.00 dirhams per share, the prior year.

As of March 30, US$1 was equivalent to 9.65 Moroccan dirhams.