Victorias Milling Co. Inc. said its normalized net income for the fiscal second quarter ended Feb. 28 was 13 Philippine centavos per share, an increase of 32.4% from 10 centavos per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 407.5 million pesos, compared with 405.2 million pesos in the prior-year period.
The normalized profit margin increased to 31.4% from 25.2% in the year-earlier period.
Total revenue declined 19.0% on an annual basis to 1.30 billion pesos from 1.61 billion pesos, and total operating expenses declined 23.8% year over year to 634.1 million pesos from 831.9 million pesos.
Reported net income decreased 16.1% on an annual basis to 456.5 million pesos, or 15 centavos per share, from 544.1 million pesos, or 14 centavos per share.
As of April 15, US$1 was equivalent to 44.47 Philippine pesos.
