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Multiexport Foods Q3 loss narrows YOY

Multiexport Foods SA said its third-quarter normalized net income amounted to a loss of $441,880, compared with a loss of $2.7 million in the prior-year period.

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

The normalized profit margin climbed to negative 0.4% from negative 3.4% in the year-earlier period.

Total revenue increased 32.2% year over year to $107.8 million from $81.5 million, and total operating expenses climbed 16.6% year over year to $101.3 million from $86.9 million.

Reported net income came to $11.2 million, or 1 cents per share, compared to a loss of $8.8 million, or a loss of 1 cents per share, in the year-earlier period.