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Groupe Bruxelles Lambert Q3 profit climbs 178.2% YOY

Groupe Bruxelles Lambert SA said its normalized net income for the third quarter amounted to €1.22 per share, an increase of 177.2% from 44 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €190.0 million, an increase of 178.2% from €68.3 million in the year-earlier period.

The normalized profit margin increased to 12.5% from 5.7% in the year-earlier period.

Total revenue rose 26.4% on an annual basis to €1.52 billion from €1.20 billion, and total operating expenses rose 7.6% from the prior-year period to €1.07 billion from €997.9 million.

Reported net income rose 85.6% from the prior-year period to €161.3 million, or €1.03 per share, from €86.9 million, or 56 cents per share.