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Bevo Agro fiscal Q3 profit climbs 75.4% YOY

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Bevo Agro fiscal Q3 profit climbs 75.4% YOY

Bevo Agro Inc. said its normalized net income for the fiscal third quarter ended March 31 was 3 Canadian cents per share, an increase of 52.0% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$746,510, an increase of 75.4% from C$425,710 in the prior-year period.

The normalized profit margin climbed to 11.0% from 8.8% in the year-earlier period.

Total revenue climbed 39.5% year over year to C$6.8 million from C$4.9 million, and total operating expenses rose 36.2% year over year to C$5.4 million from C$3.9 million.

Reported net income grew 75.4% on an annual basis to C$883,860, or 3 cents per share, from C$504,040, or 2 cents per share.