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Oboya Horticulture Q3 loss narrows YOY

Oboya Horticulture Industries AB said its third-quarter normalized net income amounted to a loss of 19 Swedish öre per share, compared with a loss of 31 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 a loss of 2.8 million kronor, compared with a loss of 4.2 million kronor in the year-earlier period.

The normalized profit margin rose to negative 3.4% from negative 6.9% in the year-earlier period.

Total revenue rose 34.0% on an annual basis to 81.7 million kronor from 61.0 million kronor, and total operating expenses rose 29.1% from the prior-year period to 86.4 million kronor from 66.9 million kronor.

Reported net income came to a loss of 4.1 million kronor, or a loss of 29 öre per share, compared to a loss of 6.0 million kronor, or a loss of 44 öre per share, in the year-earlier period.

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