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Good Hope fiscal Q3 profit falls YOY

Good Hope PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 76 Sri Lankan cents per share, a decrease of 46.2% from 1.41 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.2 million rupees, a decline of 46.1% from 9.7 million rupees in the year-earlier period.

The normalized profit margin declined to 19.9% from 26.6% in the year-earlier period.

Total revenue declined 28.1% on an annual basis to 26.2 million rupees from 36.4 million rupees, and total operating expenses decreased 14.7% from the prior-year period to 17.9 million rupees from 21.0 million rupees.

Reported net income decreased 13.9% year over year to 12.7 million rupees, or 1.85 rupees per share, from 14.7 million rupees, or 2.15 rupees per share.

As of Feb. 6, US$1 was equivalent to 132.96 Sri Lankan rupees.