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CIMIC Group Q3 profit falls YOY

CIMIC Group Ltd. said its third-quarter normalized net income was A$125.8 million, a decline of 18.1% from A$153.6 million in the prior-year period.

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

The normalized profit margin rose to 3.9% from 2.3% in the year-earlier period.

Total revenue declined 51.9% year over year to A$3.24 billion from A$6.74 billion, and total operating expenses declined 52.0% year over year to A$3.07 billion from A$6.39 billion.

Reported net income totaled A$133.4 million, compared with A$138.9 million in the year-earlier period.