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Barí³n de Ley Q1 profit climbs 32.1% YOY

Barón de Ley SA said its normalized net income for the first quarter was €5.3 million, a rise of 32.1% from €4.0 million in the prior-year period.

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

The normalized profit margin rose to 27.0% from 21.0% in the year-earlier period.

Total revenue increased year over year to €19.8 million from €19.2 million, and total operating expenses decreased 12.1% year over year to €11.2 million from €12.8 million.

Reported net income came to €6.4 million, compared with €4.9 million in the prior-year period.