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IVS Group Q3 profit falls YOY

IVS Group SA said its normalized net income for the third quarter came to 6 euro cents per share, a decrease of 19.8% from 7 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.3 million, a decrease of 19.5% from €2.8 million in the prior-year period.

The normalized profit margin fell to 2.6% from 3.3% in the year-earlier period.

Total revenue rose on an annual basis to €86.6 million from €83.8 million, and total operating expenses rose 5.0% year over year to €78.6 million from €74.9 million.

Reported net income fell 35.9% on an annual basis to €2.6 million, or 7 cents per share, from €4.1 million, or 11 cents per share.