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Ibersol Q3 profit climbs YOY

Ibersol S.G.P.S. SA said its third-quarter normalized net income amounted to 15 euro cents per share, an increase from 15 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.2 million, a gain from €4.1 million in the prior-year period.

The normalized profit margin fell to 7.2% from 7.9% in the year-earlier period.

Total revenue increased 11.5% year over year to €58.5 million from €52.4 million, and total operating expenses grew 9.9% from the prior-year period to €50.2 million from €45.6 million.

Reported net income rose from the prior-year period to €5.1 million, or 19 cents per share, from €4.9 million, or 18 cents per share.