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HomeMaid Q1 profit climbs YOY

HomeMaid AB said its normalized net income for the first quarter amounted to 11 Swedish öre per share, a gain from 3 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 2.0 million kronor, an increase from 465,000 kronor in the year-earlier period.

The normalized profit margin climbed to 3.0% from 0.7% in the year-earlier period.

Total revenue climbed 9.9% year over year to 68.7 million kronor from 62.5 million kronor, and total operating expenses increased 6.0% from the prior-year period to 65.3 million kronor from 61.6 million kronor.

Reported net income grew on an annual basis to 2.3 million kronor, or 13 öre per share, from 535,230 kronor, or 3 öre per share.

As of April 29, US$1 was equivalent to 8.32 Swedish kronor.