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Sarantis profit misses consensus by 20.2% in full year

Gr. Sarantis SA said its full-year normalized net income amounted to 43 euro cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS climbed 12.0% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €15.1 million, a gain of 12.0% from €13.5 million in the year-earlier period.

The normalized profit margin dropped to 5.4% from 5.4% in the year-earlier period.

Total revenue increased 12.2% on an annual basis to €278.8 million from €248.4 million, and total operating expenses grew 11.7% from the prior-year period to €252.7 million from €226.3 million.

Reported net income increased 14.8% from the prior-year period to €19.8 million, or 57 cents per share, from €17.2 million, or 50 cents per share.