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HomeMaid Q1 profit falls YOY

HomeMaid AB said its first-quarter normalized net income was 4 Swedish öre per share, a decrease of 64.8% from 11 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 726,250 kronor, a decline of 64.2% from 2.0 million kronor in the year-earlier period.

The normalized profit margin fell to 1.0% from 3.0% in the year-earlier period.

Total revenue rose 5.4% year over year to 72.4 million kronor from 68.7 million kronor, and total operating expenses increased 8.9% year over year to 71.1 million kronor from 65.3 million kronor.

Reported net income declined 68.7% on an annual basis to 729,640 kronor, or 4 öre per share, from 2.3 million kronor, or 13 öre per share.

As of May 13, US$1 was equivalent to 8.27 Swedish kronor.