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North Cairo Flour Mills fiscal Q3 profit climbs 35.2% YOY

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North Cairo Flour Mills fiscal Q3 profit climbs 35.2% YOY

North Cairo Flour Mills Co. said its normalized net income for the fiscal third quarter ended March 31 was 97 Egyptian piastres per share, a gain of 35.2% from 72 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.4 million pounds, a gain of 35.2% from 7.7 million pounds in the prior-year period.

The normalized profit margin increased to 2.4% from 1.9% in the year-earlier period.

Total revenue climbed 6.2% year over year to 436.0 million pounds from 410.4 million pounds, and total operating expenses rose 5.6% year over year to 404.6 million pounds from 383.1 million pounds.

Reported net income rose 30.0% year over year to 15.3 million pounds, or 1.43 pounds per share, from 11.8 million pounds, or 1.10 pounds per share.

As of May 14, US$1 was equivalent to 7.63 Egyptian pounds.