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Groupe Bruxelles Lambert Q3 profit falls YOY

Groupe Bruxelles Lambert SA said its normalized net income for the third quarter amounted to 80 euro cents per share, a decrease of 13.3% from 92 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 €125.3 million, a decrease of 12.4% from €143.1 million in the prior-year period.

The normalized profit margin fell to 9.8% from 81.6% in the year-earlier period.

Total revenue rose 627.7% year over year to €1.28 billion from €175.5 million, and total operating expenses grew 12,218.5% year over year to €997.8 million from €8.1 million.

Reported net income declined 31.1% year over year to €163.0 million, or €1.04 per share, from €236.7 million, or €1.53 per share.