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Oscar Properties Holding Q2 profit falls YOY

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Oscar Properties Holding Q2 profit falls YOY

Oscar Properties Holding AB said its second-quarter normalized net income came to 62,500 kronor, a fall of 99.4% from 10.4 million kronor in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.0% from 7.4% in the year-earlier period.

Total revenue climbed year over year to 142.7 million kronor from 141.2 million kronor, and total operating expenses rose year over year to 149.4 million kronor from 142.5 million kronor.

Reported net income increased 6.0% on an annual basis to 17.7 million kronor, or 63 öre per share, from 16.7 million kronor, or 59 öre per share.

As of July 15, US$1 was equivalent to 8.52 Swedish kronor.