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Fourlis Holdings swings to profit in Q3

Fourlis Holdings SA said its normalized net income for the third quarter amounted to €2.3 million, compared with a loss of €231,880 in the prior-year period.

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

The normalized profit margin increased to 2.0% from negative 0.2% in the year-earlier period.

Total revenue totaled €112.5 million, compared with €112.4 million in the prior-year period, and total operating expenses decreased on an annual basis to €104.4 million from €109.3 million.

Reported net income came to €2.9 million, or 6 cents per share, compared to a loss of €1.1 million, or a loss of 2 cents per share, in the prior-year period.