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SC Ves Q3 profit climbs YOY

S.C. Ves SA said its third-quarter normalized net income came to 683,440 lei, a rise from 112,240 lei in the year-earlier period.

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

The normalized profit margin rose to 5.6% from 1.1% in the year-earlier period.

Total revenue climbed 24.8% year over year to 12.2 million lei from 9.8 million lei, and total operating expenses increased 19.1% from the prior-year period to 11.1 million lei from 9.3 million lei.

Reported net income totaled 1.1 million lei, compared with 179,580 lei in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 4.13 Romanian lei.