Good Hope PLC said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 64 Sri Lankan cents per share, a decline of 68.6% from 2.03 rupees per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.4 million rupees, a decline of 68.7% from 13.9 million rupees in the year-earlier period.
Total revenue decreased 34.4% year over year to 25.8 million rupees from 39.4 million rupees, and total operating expenses increased 11.1% on an annual basis to 19.1 million rupees from 17.2 million rupees.
Reported net income came to a loss of 3.2 million rupees, or a loss of 47 cents per share, compared to income of 19.5 million rupees, or 2.83 rupees per share, in the prior-year period.
For the year, the company's normalized net income totaled 7.02 rupees per share, a decline of 55.6% from 15.81 rupees per share in the prior year.
Normalized net income was 48.2 million rupees, a decline of 55.6% from 108.7 million rupees in the prior year.
Full-year total revenue declined 38.5% year over year to 155.9 million rupees from 253.5 million rupees, and total operating expenses totaled 79.0 million rupees, compared with 79.8 million rupees in the year-earlier period.
The company said reported net income decreased 65.2% on an annual basis to 57.4 million rupees, or 8.35 rupees per share, in the full year, from 164.7 million rupees, or 23.97 rupees per share.
As of May 6, US$1 was equivalent to 133.42 Sri Lankan rupees.
