Egypt Free Shops Co. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 12 Egyptian piastres per share, a decrease of 13.8% from 14 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.1 million pounds, a decline of 13.8% from 12.9 million pounds in the year-earlier period.

The normalized profit margin dropped to 12.0% from 14.9% in the year-earlier period.

Total revenue climbed 6.8% on an annual basis to 92.6 million pounds from 86.7 million pounds, and total operating expenses increased 13.1% year over year to 75.8 million pounds from 67.0 million pounds.

Reported net income decreased 33.5% year over year to 15.1 million pounds, or 16 piastres per share, from 22.7 million pounds, or 24 piastres per share.

As of Feb. 12, US$1 was equivalent to 7.83 Egyptian pounds.