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Gabriel Holding fiscal Q1 profit climbs 56.8% YOY

Gabriel Holding A/S said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 6.1 million kroner, a gain of 56.8% from 3.9 million kroner in the prior-year period.

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

The normalized profit margin climbed to 6.3% from 5.1% in the year-earlier period.

Total revenue grew 25.0% year over year to 96.2 million kroner from 77.0 million kroner, and total operating expenses increased 24.2% from the prior-year period to 87.7 million kroner from 70.6 million kroner.

Reported net income totaled 8.0 million kroner, compared with 4.8 million kroner in the prior-year period.

As of Feb. 4, US$1 was equivalent to 6.68 Danish kroner.