Egypt Free Shops Co. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 8.4 million pounds, an increase from 196,620 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 rose to 10.3% from 0.4% in the year-earlier period.
Total revenue grew 72.8% year over year to 81.5 million pounds from 47.2 million pounds, and total operating expenses climbed 43.3% from the prior-year period to 69.0 million pounds from 48.1 million pounds.
Reported net income grew from the prior-year period to 9.9 million pounds, or 11 piastres per share, from 271,790 pounds, or 0 piastres per share.
As of Nov. 14, US$1 was equivalent to 7.15 Egyptian pounds.
