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Hunter & Co. fiscal Q3 profit falls YOY

Hunter & Co. PLC said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 7.22 Sri Lankan rupees per share, a decrease of 10.5% from 8.07 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 37.1 million rupees, a decline of 10.6% from 41.5 million rupees in the prior-year period.

The normalized profit margin fell to 4.8% from 6.1% in the year-earlier period.

Total revenue climbed 12.3% year over year to 768.2 million rupees from 684.1 million rupees, and total operating expenses grew 14.2% on an annual basis to 687.9 million rupees from 602.2 million rupees.

Reported net income fell 24.9% from the prior-year period to 50.1 million rupees, or 9.74 rupees per share, from 66.7 million rupees, or 12.96 rupees per share.

As of Feb. 12, US$1 was equivalent to 144.09 Sri Lankan rupees.