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New Wave Group profit beats consensus by 35.2% in Q2

New Wave Group AB (publ) said its normalized net income for the second quarter amounted to 81 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 60 öre per share.

EPS climbed year over year from 31 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 53.7 million kronor, an increase from 20.3 million kronor in the prior-year period.

The normalized profit margin increased to 4.3% from 1.7% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to 1.26 billion kronor from 1.19 billion kronor, and total operating expenses rose from the prior-year period to 1.15 billion kronor from 1.14 billion kronor.

Reported net income grew from the prior-year period to 67.0 million kronor, or 1.01 kronor per share, from 27.2 million kronor, or 41 öre per share.

As of Aug. 18, US$1 was equivalent to 8.37 Swedish kronor.