Guinness Ghana Breweries Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 5.2 million cedis, a decline of 49.1% from 10.2 million cedis in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 4.1% from 9.9% in the year-earlier period.
Total revenue rose 23.0% year over year to 127.1 million cedis from 103.3 million cedis, and total operating expenses climbed 26.2% on an annual basis to 105.8 million cedis from 83.9 million cedis.
Reported net income totaled 5.7 million cedis, compared with 14.7 million cedis in the year-earlier period.
As of Feb. 13, US$1 was equivalent to 3.41 cedis.
