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Besqab AB Q1 profit climbs 71.7% YOY

Besqab AB said its normalized net income for the first quarter amounted to 1.71 Swedish kronor per share, an increase of 21.2% from 1.41 kronor per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.6 million kronor, an increase of 71.7% from 15.5 million kronor in the year-earlier period.

The normalized profit margin rose to 7.7% from 7.3% in the year-earlier period.

Total revenue grew 61.3% year over year to 344.3 million kronor from 213.4 million kronor, and total operating expenses increased 61.1% year over year to 300.7 million kronor from 186.6 million kronor.

Reported net income rose 86.0% on an annual basis to 39.1 million kronor, or 2.52 kronor per share, from 21.0 million kronor, or 1.92 kronor per share.

As of May 6, US$1 was equivalent to 8.20 Swedish kronor.