Sats ASA (SATS.OL), a provider of fitness and training services, reported Tuesday higher profit in its third quarter from last year.
Looking ahead, the company continues to project mid-term EBITDA pre-IFRS 16 of 1.1 billion kroner. Progress toward the target is still expected to unfold gradually, with steady improvements over time.
On the Oslo Stock Exchange, shares were trading 5.06 percent lower at 38.45 kroner.
In the third quarter, the company's profit attributable to equity holders grew 38 percent to 98 million Norwegian Kroner from 71 million kroner last year.
Earnings per share were 0.48 krone, 39 percent higher than 0.35 krone a year ago.
For the reported period, EBITDA pre-IFRS 16 was up 13 percent to 192 million kroner from 170 million kroner the earlier year.
The company's total revenues were lifted by 8 percent to 1.29 billion kroner from 1.19 kroner in the prior year quarter, driven by 4 percent member growth and 5 percent higher Average revenue per member or ARPM.
SATS stated that it maintains a strategic focus on its core business accelerating its cycle of positive performance, supported by targeted investments in an improved product offering.
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