Groupe Centrale Danone said its second-half normalized net income amounted to 121.0 million dirhams, a rise from 3.2 million dirhams in the prior-year period.

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

Total revenue fell 5.7% year over year to 3.45 billion dirhams from 3.66 billion dirhams, and total operating expenses declined 10.9% from the prior-year period to 3.22 billion dirhams from 3.61 billion dirhams.

Reported net income totaled 43.8 million dirhams, compared with a loss of 25.3 million dirhams in the year-earlier period.

For the year, the company's normalized net income totaled 15.53 dirhams per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 4.15 dirhams.

EPS rose 81.2% from 8.57 dirhams in the prior year.

Normalized net income was 146.4 million dirhams, an increase of 81.3% from 80.7 million dirhams in the prior year.

Full-year total revenue fell from the prior-year period to 6.74 billion dirhams from 7.04 billion dirhams, and total operating expenses declined 5.8% on an annual basis to 6.45 billion dirhams from 6.84 billion dirhams.

The company said reported net income rose 28.7% on an annual basis to 53.0 million dirhams, or 5.62 dirhams per share, in the full year, from 41.2 million dirhams, or 4.37 dirhams per share.

As of March 25, US$1 was equivalent to 9.74 Moroccan dirhams.