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Mr Hamburger swings to profit in Q2

Mr Hamburger SA said its normalized net income for the second quarter came to 52,710 zlotys, compared with a loss of 20,200 zlotys in the prior-year period.

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

The normalized profit margin increased to 2.0% from negative 0.8% in the year-earlier period.

Total revenue rose 5.1% year over year to 2.6 million zlotys from 2.5 million zlotys, and total operating expenses totaled 2.5 million zlotys, compared with 2.5 million zlotys in the prior-year period.

Reported net income rose from the prior-year period to 63,300 zlotys, or 1 groszy per share, from 8,420 zlotys, or 0 groszy per share.

As of Aug. 12, US$1 was equivalent to 3.82 zlotys.