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Good Hope fiscal Q4 profit falls YOY

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.