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Cloetta AB Q3 profit climbs 41.3% YOY

Cloetta AB said its third-quarter normalized net income amounted to 39 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 41 öre per share.

EPS climbed 41.4% year over year from 27 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 111.3 million kronor, an increase of 41.3% from 78.8 million kronor in the prior-year period.

The normalized profit margin increased to 6.5% from 6.0% in the year-earlier period.

Total revenue grew 12.0% year over year to 1.46 billion kronor from 1.30 billion kronor, and total operating expenses rose 10.0% on an annual basis to 1.24 billion kronor from 1.13 billion kronor.

Reported net income grew 49.9% from the prior-year period to 128.9 million kronor, or 45 öre per share, from 86.0 million kronor, or 30 öre per share.

As of Nov. 10, US$1 was equivalent to 8.71 Swedish kronor.