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West Indian Tobacco Q3 profit climbs 9.2% YOY

West Indian Tobacco Co. Ltd. said its third-quarter normalized net income came to TT$1.23 per share, an increase of 9.2% from TT$1.13 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$103.5 million, an increase of 9.2% from TT$94.8 million in the year-earlier period.

The normalized profit margin climbed to 46.0% from 39.0% in the year-earlier period.

Total revenue declined 7.5% year over year to TT$224.8 million from TT$243.0 million, and total operating expenses fell 34.8% on an annual basis to TT$59.5 million from TT$91.2 million.

Reported net income grew 8.9% year over year to TT$122.9 million, or TT$1.46 per share, from TT$112.8 million, or TT$1.34 per share.

As of Oct. 26, US$1 was equivalent to TT$6.70.