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RNB Retail & Brands fiscal Q4 profit climbs YOY

RNB Retail & Brands AB said its normalized net income for the fiscal fourth quarter ended Aug. 31 amounted to 15 Swedish öre per share, an increase from 6 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 5.2 million kronor, a gain from 1.9 million kronor in the year-earlier period.

The normalized profit margin rose to 0.9% from 0.4% in the year-earlier period.

Total revenue rose 15.1% on an annual basis to 573.6 million kronor from 498.2 million kronor, and total operating expenses increased 13.1% from the prior-year period to 559.3 million kronor from 494.5 million kronor.

Reported net income grew 59.0% on an annual basis to 5.9 million kronor, or 17 öre per share, from 3.7 million kronor, or 11 öre per share.

For the year, the company's normalized net income totaled 83 öre per share, compared with a loss of 3 öre per share in the prior year.

Normalized net income was 28.0 million kronor, compared with a loss of 924,380 kronor in the prior year.

Full-year total revenue grew 11.5% from the prior-year period to 2.15 billion kronor from 1.93 billion kronor, and total operating expenses grew 9.3% year over year to 2.10 billion kronor from 1.92 billion kronor.

The company said reported net income totaled 42.3 million kronor, or 1.25 kronor per share, in the full year, compared with a loss of 155.1 million kronor, or a loss of 4.57 kronor per share, the prior year.

As of Nov. 26, US$1 was equivalent to 8.74 Swedish kronor.