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BG Agro AD Q3 profit falls YOY

BG Agro AD said its third-quarter normalized net income was 2 stotinki per share, a decline of 40.2% from 3 stotinki per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 754,380 leva, a decrease of 40.7% from 1.3 million leva in the year-earlier period.

The normalized profit margin declined to 1.4% from 2.4% in the year-earlier period.

Total revenue climbed 5.9% on an annual basis to 55.5 million leva from 52.4 million leva, and total operating expenses increased 7.5% year over year to 51.0 million leva from 47.4 million leva.

Reported net income declined 40.7% year over year to 1.2 million leva, or 3 stotinki per share, from 2.0 million leva, or 5 stotinki per share.

As of Nov. 29, US$1 was equivalent to 1.84 leva.