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Oboya Horticulture swings to profit in Q3

Oboya Horticulture Industries AB said its normalized net income for the third quarter came to 75,630 kronor, compared with a loss of 2.8 million kronor in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.1% from negative 3.4% in the year-earlier period.

Total revenue increased on an annual basis to 84.0 million kronor from 81.7 million kronor, and total operating expenses decreased 5.1% on an annual basis to 82.0 million kronor from 86.4 million kronor.

Reported net income came to 414,000 kronor, or 2 öre per share, compared to a loss of 4.1 million kronor, or a loss of 29 öre per share, in the prior-year period.

As of Nov. 24, US$1 was equivalent to 9.24 Swedish kronor.