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Yalco SA Q3 loss narrows YOY

Yalco-Socrates D. Constantinou & Son SA said its normalized net income for the third quarter amounted to a loss of 5 euro cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €631,820, compared with a loss of €661,680 in the prior-year period.

The normalized profit margin fell to negative 14.2% from negative 12.0% in the year-earlier period.

Total revenue decreased 19.0% on an annual basis to €4.5 million from €5.5 million, and total operating expenses declined 19.4% from the prior-year period to €4.8 million from €5.9 million.

Reported net income came to a loss of €1.1 million, or a loss of 9 cents per share, compared to a loss of €1.1 million, or a loss of 8 cents per share, in the year-earlier period.