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Cairo Oil & Soap fiscal Q2 loss narrows YOY

4916566 said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 19 Egyptian piastres per share, compared with a loss of 54 piastres per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 7.6 million pounds, compared with a loss of 8.6 million pounds in the prior-year period.

The normalized profit margin dropped to negative 73.1% from negative 27.4% in the year-earlier period.

Total revenue declined 66.9% on an annual basis to 10.3 million pounds from 31.2 million pounds, and total operating expenses decreased 54.1% from the prior-year period to 19.3 million pounds from 42.1 million pounds.

Reported net income came to a loss of 12.6 million pounds, or a loss of 31 piastres per share, compared to a loss of 14.5 million pounds, or a loss of 91 piastres per share, in the year-earlier period.

s of Feb. 8, US$1 was equivalent to 7.83 Egyptian pounds.Cairo Oil & Soap Co.

4916566 said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 19 Egyptian piastres per share, compared with a loss of 54 piastres per share in the year-earlier period.