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Delmon Poultry Q4 loss narrows YOY

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Delmon Poultry Q4 loss narrows YOY

Delmon Poultry Co. BSC said its fourth-quarter normalized net income was a loss of 119,520 Bahraini dinars, compared with a loss of 294,390 dinars in the prior-year period.

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

The normalized profit margin increased to negative 4.0% from negative 9.8% in the year-earlier period.

Total revenue totaled 3.0 million dinars, compared with 3.0 million dinars in the prior-year period, and total operating expenses declined on an annual basis to 3.2 million dinars from 3.2 million dinars.

Reported net income totaled a loss of 207,620 dinars, or a loss of 7 fils per share, compared to a loss of 499,050 dinars, or a loss of 16 fils per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 21 fils per share, compared with income of 12 fils per share in the prior year.

Normalized net income was a loss of 640,450 dinars, compared with income of 376,620 dinars in the prior year.

Full-year total revenue decreased 38.7% on an annual basis to 8.3 million dinars from 13.5 million dinars, and total operating expenses fell 28.7% on an annual basis to 9.4 million dinars from 13.2 million dinars.

The company said reported net income totaled a loss of 1.1 million dinars, or a loss of 36 fils per share, in the full year, compared with income of 521,550 dinars, or 17 fils per share, the prior year.

As of Feb. 15, US$1 was equivalent to 380 Bahraini fils.