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Pioneer Foods posts fiscal H2 profit

4273229 said its normalized net income for the fiscal second half ended Sept. 30 amounted to 573.7 million rand.

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

Total revenue totaled 10.59 billion rand, and total operating expenses came to 9.64 billion rand.

Reported net income came to 653.2 million rand, or 3.27 rand per share.

For the year, the company's normalized net income totaled 7.17 rand per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 8.86 rand.

EPS rose 27.1% from 5.64 rand in the prior year.

Normalized net income was 1.43 billion rand, a rise of 26.7% from 1.13 billion rand in the prior year.

Full-year total revenue rose 9.9% on an annual basis to 20.60 billion rand from 18.75 billion rand, and total operating expenses grew 8.0% on an annual basis to 18.27 billion rand from 16.92 billion rand.

he company said reported net income rose 43.8 Pioneer Foods.