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FirstFarms Q3 profit climbs YOY

FirstFarms A/S said its third-quarter normalized net income amounted to 22 Danish øre per share, a gain from 4 øre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million kroner, a gain from 179,380 kroner in the prior-year period.

The normalized profit margin increased to 2.1% from 0.5% in the year-earlier period.

Total revenue increased 32.1% year over year to 51.0 million kroner from 38.6 million kroner, and total operating expenses rose 29.7% on an annual basis to 47.2 million kroner from 36.4 million kroner.

Reported net income came to a loss of 2.6 million kroner, or a loss of 56 øre per share, compared to a loss of 9.0 million kroner, or a loss of 1.92 kroner per share, in the year-earlier period.

As of Nov. 29, US$1 was equivalent to 7.01 Danish kroner.