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Zinzino Q3 profit falls YOY


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Zinzino Q3 profit falls YOY

Zinzino AB said its normalized net income for the third quarter was 5 Swedish öre per share, a decline of 63.0% from 14 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.8 million kronor, a decline of 57.3% from 4.2 million kronor in the prior-year period.

The normalized profit margin fell to 1.8% from 4.8% in the year-earlier period.

Total revenue rose 15.7% year over year to 101.3 million kronor from 87.6 million kronor, and total operating expenses climbed 21.3% from the prior-year period to 98.1 million kronor from 80.8 million kronor.

Reported net income fell 64.9% on an annual basis to 2.3 million kronor, or 7 öre per share, from 6.7 million kronor, or 23 öre per share.

As of Nov. 23, US$1 was equivalent to 8.73 Swedish kronor.