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Sogefi Q1 profit climbs YOY

Sogefi SpA said its first-quarter normalized net income amounted to €6.2 million, a rise from €1.8 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.9% from 0.5% in the year-earlier period.

Total revenue rose 10.0% year over year to €372.5 million from €338.7 million, and total operating expenses increased 10.5% year over year to €349.9 million from €316.7 million.

Reported net income totaled €7.6 million, compared with a loss of €6.3 million in the year-earlier period.