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Aeffe Q3 profit falls YOY

Aeffe SpA said its normalized net income for the third quarter amounted to 2 euro cents per share, a decline of 16.0% from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.4 million, a decline of 15.9% from €2.9 million in the prior-year period.

The normalized profit margin dropped to 3.1% from 4.0% in the year-earlier period.

Total revenue climbed 6.4% on an annual basis to €77.7 million from €73.0 million, and total operating expenses climbed 10.0% from the prior-year period to €72.7 million from €66.1 million.

Reported net income decreased 35.4% on an annual basis to €1.5 million, or 1 cents per share, from €2.3 million, or 2 cents per share.