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Agroliga swings to profit in Q3

Agroliga Group PLC said its normalized net income for the third quarter was 70 euro cents per share, compared with a loss of 1 cents 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, compared with a loss of €19,500 in the year-earlier period.

The normalized profit margin fell to negative 8.5% from negative 0.6% in the year-earlier period.

Total revenue fell 24.2% year over year to €2.3 million from €3.1 million, and total operating expenses fell 74.2% from the prior-year period to €780,000 from €3.0 million.

Reported net income came to €1.8 million, or €1.14 per share, compared to a loss of €13,000, or a loss of 1 cents per share, in the prior-year period.