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Gyldendal Q3 profit climbs 29.9% YOY

Gyldendal ASA said its third-quarter normalized net income amounted to 21.78 Norwegian kroner per share, a gain of 29.6% from 16.80 kroner per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 51.3 million kroner, a gain of 29.9% from 39.5 million kroner in the prior-year period.

The normalized profit margin increased to 9.6% from 8.0% in the year-earlier period.

Total revenue climbed 7.7% on an annual basis to 533.0 million kroner from 494.7 million kroner, and total operating expenses grew 5.9% from the prior-year period to 455.9 million kroner from 430.3 million kroner.

Reported net income grew 38.5% on an annual basis to 62.2 million kroner, or 26.40 kroner per share, from 44.9 million kroner, or 19.10 kroner per share.

As of Nov. 18, US$1 was equivalent to 8.69 Norwegian kroner.