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Mansoura Poultry Q1 profit climbs YOY

Mansoura Poultry co.S.A.E. said its normalized net income for the first quarter amounted to 38 Egyptian piastres per share, a gain from 5 piastres per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.9 million pounds, an increase from 863,110 pounds in the year-earlier period.

The normalized profit margin increased to 28.9% from 8.4% in the year-earlier period.

Total revenue climbed on an annual basis to 23.8 million pounds from 10.3 million pounds, and total operating expenses increased 47.0% from the prior-year period to 13.5 million pounds from 9.2 million pounds.

Reported net income grew from the prior-year period to 8.5 million pounds, or 47 piastres per share, from 3.4 million pounds, or 19 piastres per share.

As of May 25, US$1 was equivalent to 8.88 Egyptian pounds.