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Massimo Zanetti Beverage Q3 profit climbs 41.2% YOY

Massimo Zanetti Beverage Group SpA said its third-quarter normalized net income came to 13 euro cents per share, an increase of 15.0% from 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.4 million, an increase of 41.2% from €3.1 million in the prior-year period.

The normalized profit margin dropped to 1.2% from 1.6% in the year-earlier period.

Total revenue climbed 23.6% year over year to €241.3 million from €195.2 million, and total operating expenses rose 23.6% year over year to €230.8 million from €186.7 million.

Reported net income increased 65.5% year over year to €4.3 million, or 12 cents per share, from €2.6 million, or 9 cents per share.