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Golden Pyramids Plaza Q3 profit climbs 49.6% YOY

Golden Pyramids Plaza SAE said its normalized net income for the third quarter amounted to 3 cents per share, an increase of 49.5% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.0 million, an increase of 49.6% from $10.0 million in the year-earlier period.

The normalized profit margin increased to 33.1% from 22.4% in the year-earlier period.

Total revenue grew on an annual basis to $45.2 million from $44.6 million, and total operating expenses increased 50.7% on an annual basis to $26.8 million from $17.8 million.

Reported net income rose year over year to $25.4 million, or 5 cents per share, from $4.6 million, or 1 cents per share.