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Delmon Poultry Q1 profit climbs 77.1% YOY

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Delmon Poultry Q1 profit climbs 77.1% YOY

Delmon Poultry Co. BSC said its normalized net income for the first quarter came to 317,240 Bahraini dinars, a rise of 77.1% from 179,080 dinars in the prior-year period.

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

The normalized profit margin climbed to 8.4% from 6.0% in the year-earlier period.

Total revenue climbed 25.7% on an annual basis to 3.8 million dinars from 3.0 million dinars, and total operating expenses grew 17.9% on an annual basis to 3.5 million dinars from 3.0 million dinars.

Reported net income increased 83.2% year over year to 489,910 dinars, or 16 fils per share, from 267,430 dinars, or 9 fils per share.

As of May 13, US$1 was equivalent to 380 Bahraini fils.