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Sogefi Q2 profit climbs 94.5% YOY

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Sogefi Q2 profit climbs 94.5% YOY

Sogefi SpA said its normalized net income for the second quarter came to 9 euro cents per share, an increase of 94.0% from 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €10.4 million, an increase of 94.5% from €5.4 million in the year-earlier period.

The normalized profit margin climbed to 2.0% from 1.6% in the year-earlier period.

Total revenue rose 13.6% year over year to €391.2 million from €344.3 million, and total operating expenses increased 12.5% on an annual basis to €362.5 million from €322.1 million.

Reported net income totaled €2.2 million, or 2 cents per share, compared to a loss of €1.0 million, or a loss of 1 cents per share, in the prior-year period.