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Astral Foods fiscal H1 profit climbs YOY

Astral Foods Ltd. said its normalized net income for the fiscal first half ended March 31 was 8.72 rand per share, a gain from 3.34 rand per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 337.9 million rand, a gain from 127.0 million rand in the prior-year period.

Total revenue climbed 22.4% on an annual basis to 5.75 billion rand from 4.70 billion rand, and total operating expenses grew 15.9% year over year to 5.20 billion rand from 4.48 billion rand.

Reported net income rose on an annual basis to 386.4 million rand, or 9.97 rand per share, from 143.1 million rand, or 3.76 rand per share.

As of May 18, US$1 was equivalent to 11.85 rand.