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Extracted Oil & Derivatives fiscal Q2 profit climbs YOY

Extracted Oil & Derivatives Co. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 346,250 pounds, a rise from 40,630 pounds in the prior-year period.

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

The normalized profit margin increased to 0.3% from 0.1% in the year-earlier period.

Total revenue grew year over year to 128.4 million pounds from 53.8 million pounds, and total operating expenses climbed year over year to 128.5 million pounds from 54.8 million pounds.

Reported net income totaled 554,000 pounds, or 0 piastres per share, compared to a loss of 35,000 pounds, or a loss of 0 piastres per share, in the prior-year period.

As of Feb. 6, US$1 was equivalent to 7.63 Egyptian pounds.