trending Market Intelligence /marketintelligence/en/news-insights/trending/SoxmKIXL0wj9IV9JO1TeiQ2 content esgSubNav
In This List

Foodico swings to profit in Q3

Blog

Capital Markets Activity Infographic: SPAC Volume Rises in Q3; Equity Issuance Drops but Remains Strong in Several Sectors

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Case Study

Honing Sustainable Investing Strategies with Robust Environmental Data

Blog

Asset Owner Perspectives on Climate Change Measurement, Management, and Reporting in Australia


Foodico swings to profit in Q3

Ismailia National Co. for Food Industries (Foodico) SAE said its normalized net income for the third quarter amounted to 4 Egyptian piastres per share, compared with a loss of 7 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 382,350 pounds, compared with a loss of 1.2 million pounds in the prior-year period.

The normalized profit margin climbed to 2.7% from negative 7.7% in the year-earlier period.

Total revenue fell 11.1% on an annual basis to 14.1 million pounds from 15.8 million pounds, and total operating expenses fell 11.9% year over year to 14.7 million pounds from 16.7 million pounds.

Reported net income totaled 1.5 million pounds, or 17 piastres per share, compared to a loss of 2.2 million pounds, or a loss of 14 piastres per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to 16.48 Egyptian pounds.