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East Delta Flour Mills fiscal Q3 profit climbs 76.0% YOY

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East Delta Flour Mills fiscal Q3 profit climbs 76.0% YOY

East Delta Flour Mills said its normalized net income for the fiscal third quarter ended March 31 was 2.50 Egyptian pounds per share, an increase of 76.0% from 1.42 pounds per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.0 million pounds, a gain of 76.0% from 8.5 million pounds in the prior-year period.

The normalized profit margin rose to 2.7% from 1.7% in the year-earlier period.

Total revenue climbed 7.2% on an annual basis to 548.0 million pounds from 511.3 million pounds, and total operating expenses climbed 6.8% on an annual basis to 525.9 million pounds from 492.5 million pounds.

Reported net income rose 76.1% from the prior-year period to 18.0 million pounds, or 3.00 pounds per share, from 10.2 million pounds, or 1.71 pounds per share.

As of May 11, US$1 was equivalent to 7.63 Egyptian pounds.