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Orkla Q3 profit climbs 27.0% YOY

Orkla ASA said its third-quarter normalized net income was 69 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 78 øre per share.

EPS climbed 27.2% year over year from 54 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 697.3 million kroner, a gain of 27.0% from 548.9 million kroner in the year-earlier period.

The normalized profit margin rose to 8.3% from 7.5% in the year-earlier period.

Total revenue climbed 15.3% on an annual basis to 8.38 billion kroner from 7.27 billion kroner, and total operating expenses rose 15.5% year over year to 7.39 billion kroner from 6.40 billion kroner.

Reported net income grew 20.5% year over year to 810.0 million kroner, or 80 øre per share, from 672.0 million kroner, or 66 øre per share.

As of Oct. 30, US$1 was equivalent to 8.46 Norwegian kroner.