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Albena AD Q3 profit climbs 7.1% YOY

Albena AD said its normalized net income for the third quarter amounted to 4.92 leva per share, an increase of 7.1% from 4.60 leva per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 20.4 million leva, an increase of 7.1% from 19.1 million leva in the year-earlier period.

The normalized profit margin fell to 26.5% from 27.0% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to 76.8 million leva from 70.5 million leva, and total operating expenses rose 10.4% on an annual basis to 43.6 million leva from 39.5 million leva.

Reported net income rose 7.1% from the prior-year period to 32.5 million leva, or 7.84 leva per share, from 30.4 million leva, or 7.33 leva per share.

As of Nov. 30, US$1 was equivalent to 1.85 leva.