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C. W. Mackie fiscal Q3 profit climbs 11.3% YOY

C. W. Mackie PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 1.20 Sri Lankan rupees per share, an increase of 11.4% from 1.08 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 43.3 million rupees, a gain of 11.3% from 38.9 million rupees in the year-earlier period.

The normalized profit margin increased to 2.4% from 2.1% in the year-earlier period.

Total revenue fell 5.8% on an annual basis to 1.78 billion rupees from 1.89 billion rupees, and total operating expenses decreased 6.0% year over year to 1.70 billion rupees from 1.81 billion rupees.

Reported net income decreased 31.5% year over year to 34.5 million rupees, or 96 cents per share, from 50.4 million rupees, or 1.40 rupees per share.

As of Feb. 11, US$1 was equivalent to 132.80 Sri Lankan rupees.