Seprod Ltd said its normalized net income for the third quarter amounted to 39 Jamaican cents per share, an increase from 15 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$201.5 million, a gain from J$75.4 million in the prior-year period.

The normalized profit margin rose to 5.8% from 2.4% in the year-earlier period.

Total revenue climbed 10.4% on an annual basis to J$3.50 billion from J$3.17 billion, and total operating expenses increased 6.2% from the prior-year period to J$3.43 billion from J$3.22 billion.

Reported net income increased year over year to J$185.6 million, or 36 cents per share, from J$26.5 million, or 5 cents per share.

As of Nov. 8, US$1 was equivalent to J$129.05.