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Marine Harvest Q3 profit climbs YOY

Marine Harvest ASA said its third-quarter normalized net income was 32 euro cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS rose year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €143.3 million, an increase from €27.5 million in the prior-year period.

The normalized profit margin rose to 16.9% from 3.7% in the year-earlier period.

Total revenue climbed 13.5% on an annual basis to €849.1 million from €747.8 million, and total operating expenses fell 6.4% year over year to €590.4 million from €631.0 million.

Reported net income increased from the prior-year period to €157.9 million, or 35 cents per share, from €22.6 million, or 5 cents per share.