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Mansoura Poultry Q3 profit climbs 17.1% YOY

Mansoura Poultry co.S.A.E. said its normalized net income for the third quarter amounted to 1.1 million pounds, a gain of 17.1% from 914,810 pounds in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 7.2% from 6.9% in the year-earlier period.

Total revenue climbed year over year to 13.8 million pounds from 13.2 million pounds, and total operating expenses increased 6.7% from the prior-year period to 13.1 million pounds from 12.2 million pounds.

Reported net income fell 67.9% year over year to 1.3 million pounds, or 7 piastres per share, from 4.1 million pounds.

As of Nov. 4, US$1 was equivalent to 15.56 Egyptian pounds.