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Bevo Agro fiscal Q2 profit falls YOY

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Bevo Agro fiscal Q2 profit falls YOY

Bevo Agro Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to C$10,870, a fall of 93.0% from C$155,970 in the prior-year period.

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

The normalized profit margin declined to 0.2% from 3.0% in the year-earlier period.

Total revenue grew 23.4% on an annual basis to C$6.4 million from C$5.2 million, and total operating expenses increased 30.6% year over year to C$6.2 million from C$4.7 million.

Reported net income fell 92.8% year over year to C$12,870, or 0 cents per share, from C$177,620, or 1 cents per share.