Mansoura Poultry co.S.A.E. said its first-quarter normalized net income amounted to 5 Egyptian piastres per share, a decline of 97.2% from 1.76 pounds per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 863,110 pounds, a decrease of 97.3% from 31.9 million pounds in the prior-year period.
The normalized profit margin fell to 8.4% from 126.9% in the year-earlier period.
Total revenue fell 59.1% year over year to 10.3 million pounds from 25.1 million pounds, and total operating expenses fell 45.6% on an annual basis to 9.2 million pounds from 16.9 million pounds.
Reported net income decreased 91.8% on an annual basis to 3.1 million pounds, or 18 piastres per share, from 38.2 million pounds, or 2.11 pounds per share.
As of May 12, US$1 was equivalent to 7.64 Egyptian pounds.
