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Misr Poultry Q1 profit climbs 15.1% YOY

Ismailia/Misr Poultry Co. SAE said its normalized net income for the first quarter was 2 Egyptian piastres per share, a gain of 15.0% from 2 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.1 million pounds, a gain of 15.1% from 1.8 million pounds in the year-earlier period.

The normalized profit margin increased to 3.3% from 2.8% in the year-earlier period.

Total revenue came to 63.5 million pounds, compared with 64.0 million pounds in the prior-year period, and total operating expenses climbed from the prior-year period to 60.9 million pounds from 59.2 million pounds.

Reported net income rose 16.8% year over year to 3.8 million pounds, or 4 piastres per share, from 3.2 million pounds, or 4 piastres per share.

As of May 23, US$1 was equivalent to 8.88 Egyptian pounds.