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Plava laguna d.d. Q2 profit climbs 30.5% YOY

Plava laguna d.d. said its normalized net income for the second quarter came to 26.0 million kuna, an increase of 30.5% from 19.9 million kuna in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 10.6% from 15.8% in the year-earlier period.

Total revenue increased 95.0% on an annual basis to 244.9 million kuna from 125.6 million kuna, and total operating expenses climbed 90.0% on an annual basis to 207.2 million kuna from 109.1 million kuna.

Reported net income totaled 44.8 million kuna, compared with 31.8 million kuna in the prior-year period.

As of July 29, US$1 was equivalent to 6.89 kuna.