Arabia Cotton Ginning Co. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 1.5 million pounds, a fall of 65.1% from 4.3 million pounds in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 0.7% from 2.5% in the year-earlier period.
Total revenue increased 30.0% on an annual basis to 222.7 million pounds from 171.3 million pounds, and total operating expenses grew 30.2% on an annual basis to 216.0 million pounds from 166.0 million pounds.
Reported net income decreased 30.0% on an annual basis to 941,000 pounds, or 0 piastres per share, from 1.3 million pounds, or 1 piastres per share.
As of March 12, US$1 was equivalent to 7.63 Egyptian pounds.
