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Mavshack Q3 loss narrows YOY

Mavshack AB said its third-quarter normalized net income came to a loss of 1 Swedish öre per share, compared with a loss of 22 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 a loss of 1.4 million kronor, compared with a loss of 17.0 million kronor in the prior-year period.

The normalized profit margin was 21.7%.

Total revenue grew on an annual basis to 6.2 million kronor from 3.0 million kronor, and total operating expenses declined 70.2% year over year to 9.7 million kronor from 32.6 million kronor.

Reported net income totaled a loss of 2.6 million kronor, or a loss of 2 öre per share, compared to a loss of 27.8 million kronor, or a loss of 37 öre per share, in the year-earlier period.

As of Oct. 28, US$1 was equivalent to 9.04 Swedish kronor.