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Estoril Sol Q3 profit climbs 90.3% YOY

Estoril Sol SGPS S.A. said its third-quarter normalized net income was 9 euro cents per share, a gain of 99.8% from 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.1 million, an increase of 90.3% from €567,120 in the prior-year period.

The normalized profit margin climbed to 2.2% from 1.2% in the year-earlier period.

Total revenue increased 7.9% year over year to €49.1 million from €45.5 million, and total operating expenses climbed 7.6% on an annual basis to €46.2 million from €43.0 million.

Reported net income rose 90.5% year over year to €1.7 million, or 14 cents per share, from €882,890, or 7 cents per share.