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Oscar Properties Holding Q1 profit falls YOY

Oscar Properties Holding AB said its first-quarter normalized net income came to 23 Swedish öre per share, a decrease of 64.9% from 66 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.5 million kronor, a decrease of 61.8% from 17.0 million kronor in the year-earlier period.

The normalized profit margin declined to 4.9% from 18.4% in the year-earlier period.

Total revenue climbed 44.3% on an annual basis to 133.6 million kronor from 92.6 million kronor, and total operating expenses grew 40.9% on an annual basis to 125.8 million kronor from 89.3 million kronor.

Reported net income decreased 44.5% on an annual basis to 15.1 million kronor, or 54 öre per share, from 27.2 million kronor, or 1.05 kronor per share.

As of April 24, US$1 was equivalent to 8.63 Swedish kronor.