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Mercator Q2 profit falls YOY

Poslovni sistem Mercator d.d. said its second-quarter normalized net income was 68 euro cents per share, a decrease of 52.6% from €1.44 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.1 million, a decrease of 52.6% from €8.7 million in the year-earlier period.

The normalized profit margin dropped to 0.5% from 1.3% in the year-earlier period.

Total revenue declined on an annual basis to €640.4 million from €658.5 million, and total operating expenses declined year over year to €626.3 million from €637.3 million.

Reported net income declined 57.3% year over year to €4.8 million, or 79 cents per share, from €11.3 million, or €1.86 per share.