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Raval ACS Q3 profit falls YOY


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Fintech Intelligence Newsletter: February 2021

Raval ACS Q3 profit falls YOY

Raval ACS Ltd. said its normalized net income for the third quarter amounted to 2 euro cents per share, a decrease of 26.4% from 3 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 €1.5 million, a decline of 26.0% from €2.0 million in the year-earlier period.

The normalized profit margin fell to 3.5% from 5.1% in the year-earlier period.

Total revenue increased 9.6% year over year to €42.8 million from €39.1 million, and total operating expenses increased 11.7% year over year to €39.9 million from €35.7 million.

Reported net income decreased 42.1% from the prior-year period to €1.8 million, or 2 cents per share, from €3.1 million, or 4 cents per share.