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Cnova swings to profit in Q3

Cnova NV said its normalized net income for the third quarter was 13 euro cents per share, compared with a loss of 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €58.6 million, compared with a loss of €20.8 million in the year-earlier period.

Reported net income totaled €133.5 million, or 30 cents per share, compared to a loss of €32.2 million, or a loss of 7 cents per share, in the year-earlier period.