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Delmon Poultry Q2 loss narrows YOY

Delmon Poultry Co. BSC said its normalized net income for the second quarter was a loss of 40,180 Bahraini dinars, compared with a loss of 200,400 dinars in the year-earlier period.

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

The normalized profit margin increased to negative 1.1% from negative 14.3% in the year-earlier period.

Total revenue grew year over year to 3.6 million dinars from 1.4 million dinars, and total operating expenses increased from the prior-year period to 3.8 million dinars from 1.7 million dinars.

Reported net income totaled a loss of 79,570 dinars, or a loss of 3 fils per share, compared to a loss of 337,040 dinars, or a loss of 11 fils per share, in the prior-year period.

As of Aug. 9, US$1 was equivalent to 380 Bahraini fils.