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Lavena Q3 profit climbs YOY

Lavena AD said its third-quarter normalized net income amounted to 1.13 leva per share, a gain from 49 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 301,880 leva, a gain from 130,630 leva in the year-earlier period.

The normalized profit margin rose to 8.2% from 3.8% in the year-earlier period.

Total revenue rose 6.5% on an annual basis to 3.7 million leva from 3.4 million leva, and total operating expenses totaled 3.1 million leva, compared with 3.1 million leva in the year-earlier period.

Reported net income increased from the prior-year period to 434,000 leva, or 1.63 leva per share, from 187,000 leva, or 70 stotinki per share.

As of Nov. 24, US$1 was equivalent to 1.85 leva.