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Estoril Sol Q3 profit climbs YOY

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Estoril Sol Q3 profit climbs YOY

Estoril Sol SGPS S.A. said its normalized net income for the third quarter amounted to 19 euro cents per share, a gain from 9 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 €2.3 million, a gain from €1.1 million in the prior-year period.

The normalized profit margin rose to 4.6% from 2.2% in the year-earlier period.

Total revenue rose on an annual basis to €50.0 million from €49.1 million, and total operating expenses declined year over year to €45.5 million from €46.2 million.

Reported net income increased year over year to €3.7 million, or 31 cents per share, from €1.7 million, or 14 cents per share.