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AB Snaige Q3 profit climbs 21.8% YOY

AB Snaige said its third-quarter normalized net income was 2 euro cents per share, a gain of 21.8% from 1 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 €628,850, an increase of 21.8% from €516,200 in the prior-year period.

The normalized profit margin increased to 5.0% from 3.6% in the year-earlier period.

Total revenue decreased 11.5% year over year to €12.6 million from €14.3 million, and total operating expenses declined 13.5% from the prior-year period to €11.6 million from €13.4 million.

Reported net income grew 21.8% from the prior-year period to €1.0 million, or 3 cents per share, from €825,920, or 2 cents per share.