Stern Groep NV announced earnings and operating results for the nine months and earnings results for the third quarter ended September 30, 2016. For the nine months, net revenue increased by 6.4% compared to EUR 820.9 million a year ago. The operating profit was EUR 12.5 million, compared to EUR 10.3 million a year earlier. The profit after tax was EUR 7.3 million, compared to EUR 5.4 million a year earlier. Earnings per share came to EUR 1.28 against EUR 0.96 a year ago. Net asset value per share as at September 30, 2016 was EUR 27.13 compared to EUR 26.57 a year ago.

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.