International Co. for Agricultural Crops said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 2.8 million pounds, a rise from 435,360 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 climbed to 2.1% from 0.3% in the year-earlier period.
Total revenue declined 10.3% year over year to 130.0 million pounds from 144.9 million pounds, and total operating expenses decreased 12.9% on an annual basis to 123.2 million pounds from 141.5 million pounds.
Reported net income grew on an annual basis to 4.2 million pounds, or 5 piastres per share, from 298,550 pounds, or 0 piastres per share.
As of Feb. 13, US$1 was equivalent to 7.63 Egyptian pounds.
