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Hagar hf fiscal Q2 profit climbs YOY

Hagar hf said its normalized net income for the fiscal second quarter ended Aug. 31 came to 77 aurar per share, an increase from 76 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 901.9 million kronur, a gain from 887.5 million kronur in the year-earlier period.

The normalized profit margin rose to 4.6% from 4.6% in the year-earlier period.

Total revenue totaled 19.48 billion kronur, compared with 19.41 billion kronur in the prior-year period, and total operating expenses came to 18.01 billion kronur, compared with 17.91 billion kronur in the year-earlier period.

Reported net income increased on an annual basis to 1.16 billion kronur, or 99 aurar per share, from 1.14 billion kronur, or 97 aurar per share.

As of Oct. 23, US$1 was equivalent to 120.89 Icelandic kronur.