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Fu-Wang Foods fiscal Q3 profit falls YOY

Fu-Wang Foods Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 26 poisha per share, a decrease from 27 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.2 million taka, a decrease from 26.8 million taka in the prior-year period.

The normalized profit margin dropped to 16.2% from 16.6% in the year-earlier period.

Total revenue totaled 161.9 million taka, compared with 161.4 million taka in the year-earlier period, and total operating expenses climbed on an annual basis to 118.5 million taka from 114.9 million taka.

Reported net income declined on an annual basis to 29.7 million taka, or 29 poisha per share, from 31.1 million taka, or 31 poisha per share.

As of May 1, US$1 was equivalent to 77.72 taka.