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Zambeef Products fiscal H1 loss narrows YOY

Zambeef Products PLC said its normalized net income for the fiscal first half ended March 31 amounted to a loss of $396,480, compared with a loss of $17.5 million in the year-earlier period.

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

Total revenue fell 9.0% year over year to $784.4 million from $862.4 million, and total operating expenses fell 16.8% from the prior-year period to $689.7 million from $828.8 million.

Reported net income came to a loss of $29.0 million, or a loss of 12 cents per share, compared to a loss of $44.7 million, or a loss of 18 cents per share, in the prior-year period.