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RNB Retail & Brands fiscal Q1 profit climbs 43.5% YOY

RNB Retail & Brands AB said its normalized net income for the fiscal first quarter ended Nov. 30 was 41 Swedish öre per share, an increase of 43.5% from 28 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.8 million kronor, a gain of 43.5% from 9.6 million kronor in the prior-year period.

The normalized profit margin rose to 2.7% from 2.0% in the year-earlier period.

Total revenue climbed 5.2% year over year to 509.1 million kronor from 483.8 million kronor, and total operating expenses rose from the prior-year period to 486.3 million kronor from 466.3 million kronor.

Reported net income increased 81.1% year over year to 22.1 million kronor, or 65 öre per share, from 12.2 million kronor, or 36 öre per share.

As of Dec. 18, US$1 was equivalent to 7.70 Swedish kronor.