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Bairaha Farms swings to profit in fiscal Q3

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Bairaha Farms swings to profit in fiscal Q3

4913944 said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 56 Sri Lankan cents per share, compared with a loss of 83 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 8.9 million rupees, compared with a loss of 13.2 million rupees in the year-earlier period.

The normalized profit margin rose to 1.1% from negative 1.8% in the year-earlier period.

Total revenue rose 10.1% on an annual basis to 807.8 million rupees from 733.8 million rupees, and total operating expenses climbed 5.5% on an annual basis to 793.1 million rupees from 751.7 million rupees.

eported net income totaled 13.3 million rupees, or 83 cents per Bairaha Farms PLC.