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Valora Holding swings to profit in H2

Valora Holding AG said its second-half normalized net income came to CHF5.92 per share, compared with a loss of 2 centimes per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF21.5 million, compared with a loss of CHF66,500 in the year-earlier period.

Total revenue grew 10.7% on an annual basis to CHF1.09 billion from CHF981.8 million, and total operating expenses grew 7.3% year over year to CHF1.04 billion from CHF973.9 million.

Reported net income totaled CHF32.4 million, or CHF8.92 per share, compared to a loss of CHF2.2 million, or a loss of 53 centimes per share, in the prior-year period.

For the year, the company's normalized net income totaled CHF8.32 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of CHF7.02.

EPS rose from CHF3.05 in the prior year.

Normalized net income was CHF28.0 million, a gain from CHF10.3 million in the prior year.

Full-year total revenue rose 7.5% on an annual basis to CHF2.08 billion from CHF1.93 billion, and total operating expenses grew 6.0% year over year to CHF2.01 billion from CHF1.90 billion.

The company said reported net income grew year over year to CHF41.2 million, or CHF12.27 per share, in the full year, from CHF11.4 million, or CHF3.36 per share.