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Bevo Agro fiscal Q2 profit climbs YOY

Bevo Agro Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to C$308,230, a rise from C$10,870 in the prior-year period.

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

The normalized profit margin increased to 4.5% from 0.2% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to C$6.8 million from C$6.4 million, and total operating expenses declined on an annual basis to C$6.1 million from C$6.2 million.

Reported net income rose year over year to C$364,950, or 1 cent per share, from C$12,870, or 0 cents per share.