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Dustin Group profit misses consensus by 38.6% in fiscal Q3

Dustin Group AB (publ) said its normalized net income for the fiscal third quarter ended May 31 was 57 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 93 öre per share.

EPS increased 11.2% year over year from 51 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 43.5 million kronor, an increase of 11.2% from 39.1 million kronor in the prior-year period.

The normalized profit margin increased to 2.2% from 2.0% in the year-earlier period.

Total revenue increased on an annual basis to 1.99 billion kronor from 1.92 billion kronor, and total operating expenses increased year over year to 1.91 billion kronor from 1.85 billion kronor.

Reported net income rose 39.5% from the prior-year period to 51.0 million kronor, or 67 öre per share, from 36.6 million kronor, or 48 öre per share.

As of July 7, US$1 was equivalent to 8.58 Swedish kronor.