Blue Power Group Ltd. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to 25 Jamaican cents per share, a decrease of 11.1% from 28 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$14.3 million, a decrease of 9.5% from J$15.8 million in the year-earlier period.
The normalized profit margin declined to 5.5% from 5.7% in the year-earlier period.
Total revenue decreased 6.0% on an annual basis to J$258.6 million from J$275.2 million, and total operating expenses decreased 6.4% on an annual basis to J$236.2 million from J$252.2 million.
Reported net income declined 9.5% from the prior-year period to J$22.8 million, or 40 cents per share, from J$25.2 million, or 45 cents per share.
As of Nov. 27, US$1 was equivalent to J$113.15.
