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Fu-Wang Foods fiscal Q2 profit climbs YOY

Fu-Wang Foods Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 29 poisha per share, a gain from 3 poisha per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 29.4 million taka, a gain from 3.3 million taka in the year-earlier period.

The normalized profit margin rose to 13.4% from 2.1% in the year-earlier period.

Total revenue rose 40.5% on an annual basis to 218.8 million taka from 155.7 million taka, and total operating expenses increased 15.6% from the prior-year period to 169.2 million taka from 146.4 million taka.

Reported net income rose on an annual basis to 33.4 million taka, or 33 poisha per share, from 3.8 million taka, or 4 poisha per share.

As of Feb. 4, US$1 was equivalent to 78.08 taka.