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Hagar hf fiscal Q3 profit falls YOY

Hagar hf said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, amounted to 50 aurar per share, a decline of 6.7% from 54 aurar per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 589.4 million kronur, a decrease of 6.5% from 630.6 million kronur in the year-earlier period.

The normalized profit margin declined to 3.2% from 3.5% in the year-earlier period.

Total revenue climbed year over year to 18.40 billion kronur from 18.00 billion kronur, and total operating expenses increased year over year to 17.42 billion kronur from 16.92 billion kronur.

Reported net income fell 5.8% year over year to 754.0 million kronur, or 64 aurar per share, from 800.0 million kronur, or 68 aurar per share.

As of Jan. 9, US$1 was equivalent to 130.43 Icelandic kronur.