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Cairo Poultry Q2 profit climbs 12.7% YOY

Cairo Poultry Co. S.A.E. said its second-quarter normalized net income was 34.7 million pounds, an increase of 12.7% from 30.8 million pounds in the year-earlier period.

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

The normalized profit margin increased to 5.1% from 4.7% in the year-earlier period.

Total revenue increased on an annual basis to 683.2 million pounds from 651.6 million pounds, and total operating expenses grew year over year to 605.4 million pounds from 584.2 million pounds.

Reported net income grew 10.3% year over year to 54.7 million pounds, or 11 piastres per share, from 49.6 million pounds.

As of July 19, US$1 was equivalent to 8.88 Egyptian pounds.