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Ibersol Q1 profit climbs 78.4% YOY


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Banking Essentials Newsletter: September Edition

Ibersol Q1 profit climbs 78.4% YOY

Ibersol S.G.P.S. SA said its normalized net income for the first quarter came to 13 euro cents per share, an increase of 80.7% from 7 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 €3.6 million, an increase of 78.4% from €2.0 million in the year-earlier period.

The normalized profit margin rose to 6.1% from 4.2% in the year-earlier period.

Total revenue climbed 12.8% on an annual basis to €53.9 million from €47.8 million, and total operating expenses increased 9.6% on an annual basis to €48.7 million from €44.5 million.

Reported net income rose from the prior-year period to €5.9 million, or 22 cents per share, from €2.4 million, or 9 cents per share.