Leucadia National Corporation (LUK) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $155.37 million, or $ 0.41 a share in the quarter, against a net loss of $172.16 million, or $0.47 a share in the last year period.
Revenue during the quarter grew 13.11 percent to $2,676.38 million from $2,366.10 million in the previous year period.
Operating income for the quarter was $2,676.38 million, compared with $2,366.10 million in the previous year period.
Rich Handler, chief executive officer of Leucadia, and Brian Friedman, president of Leucadia, said: "We are pleased with our overall momentum, including better results at Jefferies and a record quarter for National Beef. Jefferies’ net revenues, which were well above the same period last year and consistent with last quarter, reflect the continued development and strengthening of the Jefferies team, as well as solid trading market conditions for much of the quarter. National Beef has performed strongly, as we have returned to a more normal operating environment due to the greater availability of cattle. Our other free-cash generating businesses showed steady performance during the quarter, while we continued to make progress in value creation for the remainder of our portfolio.
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