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Europris Q3 profit falls YOY

Europris ASA said its normalized net income for the third quarter came to 57.4 million kroner, a decrease of 9.9% from 63.8 million kroner in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 4.7% from 5.6% in the year-earlier period.

Total revenue increased 7.3% on an annual basis to 1.22 billion kroner from 1.13 billion kroner, and total operating expenses increased 8.4% from the prior-year period to 1.12 billion kroner from 1.03 billion kroner.

Reported net income totaled 68.9 million kroner, compared with 74.5 million kroner, or 45 øre per share, in the year-earlier period.

As of Nov. 3, US$1 was equivalent to 8.17 Norwegian kroner.