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Sport Lisboa e Benfica swings to loss in fiscal Q3

Sport Lisboa e Benfica - Futebol SAD said its normalized net income for the fiscal third quarter ended March 31 was a loss of 38 euro cents per share, compared with 2 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 a loss of €8.7 million, compared with income of €538,130 in the year-earlier period.

The normalized profit margin declined to negative 44.4% from 2.9% in the year-earlier period.

Total revenue grew year over year to €19.6 million from €18.8 million, and total operating expenses climbed on an annual basis to €29.0 million from €13.8 million.

Reported net income totaled a loss of €14.0 million, or a loss of 61 cents per share, compared to income of €795,000, or 3 cents per share, in the year-earlier period.