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New Nordic Healthbrands AB Q1 profit falls YOY

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New Nordic Healthbrands AB Q1 profit falls YOY

New Nordic Healthbrands AB said its first-quarter normalized net income came to 31 Swedish öre per share, a decrease of 20.9% from 39 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.9 million kronor, a decrease of 20.9% from 2.4 million kronor in the year-earlier period.

The normalized profit margin declined to 2.6% from 3.3% in the year-earlier period.

Total revenue increased year over year to 74.6 million kronor from 72.9 million kronor, and total operating expenses climbed year over year to 71.7 million kronor from 68.9 million kronor.

Reported net income declined 25.1% from the prior-year period to 2.3 million kronor, or 37 öre per share, from 3.1 million kronor, or 50 öre per share.

As of April 28, US$1 was equivalent to 8.10 Swedish kronor.