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Gino Rossi Q2 profit climbs 30.6% YOY

Gino Rossi S.A. said its normalized net income for the second quarter amounted to 6 groszy per share, a gain of 30.6% from 4 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.9 million zlotys, a gain of 30.6% from 2.2 million zlotys in the prior-year period.

The normalized profit margin climbed to 4.1% from 3.2% in the year-earlier period.

Total revenue grew year over year to 71.6 million zlotys from 70.2 million zlotys, and total operating expenses rose year over year to 66.4 million zlotys from 65.2 million zlotys.

Reported net income increased 33.3% on an annual basis to 4.0 million zlotys, or 8 groszy per share, from 3.0 million zlotys, or 6 groszy per share.

As of Aug. 30, US$1 was equivalent to 3.91 zlotys.