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Oboya Horticulture swings to profit in Q2

Oboya Horticulture Industries AB said its normalized net income for the second quarter was 4 Swedish öre per share, compared with a loss of 22 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 623,130 kronor, compared with a loss of 3.5 million kronor in the year-earlier period.

The normalized profit margin climbed to 0.7% from negative 4.3% in the year-earlier period.

Total revenue rose on an annual basis to 84.5 million kronor from 81.8 million kronor, and total operating expenses decreased from the prior-year period to 82.2 million kronor from 84.9 million kronor.

Reported net income totaled 176,270 kronor, or 1 öre per share, compared to a loss of 6.0 million kronor, or a loss of 37 öre per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 8.41 Swedish kronor.