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PBC Ltd. fiscal Q1 profit climbs YOY

PBC Ltd said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 16.7 million cedis, an increase from 15.9 million cedis in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 1.7% from 2.3% in the year-earlier period.

Total revenue increased 45.6% year over year to 993.1 million cedis from 681.9 million cedis, and total operating expenses climbed 45.1% on an annual basis to 920.7 million cedis from 634.4 million cedis.

Reported net income rose year over year to 20.0 million cedis, or 4 pesewas per share, from 19.1 million cedis.

As of Jan. 27, US$1 was equivalent to 4.03 cedis.