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Grupa Zywiec Q2 profit climbs 11.4% YOY

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Grupa Zywiec Q2 profit climbs 11.4% YOY

Grupa Zywiec S.A. said its second-quarter normalized net income amounted to 7.35 zlotys per share, a gain of 11.4% from 6.60 zlotys per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 75.5 million zlotys, a gain of 11.4% from 67.8 million zlotys in the prior-year period.

The normalized profit margin rose to 9.8% from 7.6% in the year-earlier period.

Total revenue declined 13.4% on an annual basis to 768.6 million zlotys from 887.0 million zlotys, and total operating expenses fell 17.0% on an annual basis to 641.1 million zlotys from 772.8 million zlotys.

Reported net income fell 23.4% on an annual basis to 70.2 million zlotys, or 6.83 zlotys per share, from 91.6 million zlotys, or 8.92 zlotys per share.

As of Aug. 1, US$1 was equivalent to 3.90 zlotys.