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Mr Green & Co. Q1 profit falls YOY

Mr Green & Co. AB said its normalized net income for the first quarter was 8 Swedish öre per share, a decline of 80.5% from 43 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.1 million kronor, a decline of 80.3% from 15.6 million kronor in the year-earlier period.

The normalized profit margin declined to 1.6% from 10.1% in the year-earlier period.

Total revenue climbed 26.2% on an annual basis to 195.2 million kronor from 154.6 million kronor, and total operating expenses grew 47.2% from the prior-year period to 190.3 million kronor from 129.3 million kronor.

Reported net income fell 79.8% on an annual basis to 4.7 million kronor, or 13 öre per share, from 23.4 million kronor, or 65 öre per share.

As of May 8, US$1 was equivalent to 8.24 Swedish kronor.