Giglio Group returns to net and operating profit in nine months

(Alliance News) - Giglio Group Spa reported that it ended the nine months with a return to net income despite a year-on-year decline in revenues.

The company reported a net profit of EUR110,000 as of Sept. 30, which compares with a net loss of EUR849,000 in the same period last year.

Revenues fell to EUR22.9 million from EUR27.8 million a year earlier, with personnel costs, however, falling by EUR560,000 in the period.

Ebitda improved to EUR1.8 milinoi from EUR810,000 a year earlier while operating income rose to EUR935,000 from a EUR91,000 liability a year earlier.

Giglio Group's stock closed Monday in the green 3.1 percent to EUR0.54 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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