Stern Groep NV Announces Earnings and Operating Results for the Nine Months and Earnings Results for the Third Quarter Ended September 30, 2016; Provides Earnings Guidance for the Year 2016
For the quarter, the company reported net revenue rose 1.2% to EUR 258.5 million. The operating profit was EUR 3.7 million, compared to EUR 3.8 million a year earlier. The profit after tax was EUR 2.1 million, compared to EUR 2.0 million a year earlier.
For the nine months, the company reported market registered new passenger cars showed a 5.3% decline to 285,355 units compared to 301,338 units a year ago. The company has realized sales of 16,009 new passenger cars, a decline of 6.9% compared to same period a year ago. Market for new light commercial vehicles showed an increase of 23.2% to 55,458units compared to 45,018 units a year ago.
The market for light commercial vehicles continues to be very positive in 2016 compared to the level seen in 2015. The company expects to achieve a results that is equal to that realized in 2015.