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M.Video PJSC H2 profit climbs 60.4% YOY

M.Video PJSC said its second-half normalized net income amounted to 14.91 Russian rubles per share, an increase of 60.4% from 9.30 rubles per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.68 billion rubles, a gain of 60.4% from 1.67 billion rubles in the prior-year period.

Total revenue climbed 9.2% year over year to 99.64 billion rubles from 91.23 billion rubles, and total operating expenses increased 7.9% from the prior-year period to 95.51 billion rubles from 88.55 billion rubles.

Reported net income rose 66.2% on an annual basis to 3.33 billion rubles, or 18.57 rubles per share, from 2.01 billion rubles, or 11.17 rubles per share.

For the year, the company's normalized net income totaled 25.11 rubles per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 29.99 rubles.

EPS rose 19.9% from 20.94 rubles in the prior year.

Normalized net income was 4.51 billion rubles, an increase of 19.9% from 3.76 billion rubles in the prior year.

Full-year total revenue increased 13.3% year over year to 183.22 billion rubles from 161.69 billion rubles, and total operating expenses grew 13.1% year over year to 176.52 billion rubles from 156.07 billion rubles.

The company said reported net income rose 22.0% on an annual basis to 5.55 billion rubles, or 30.89 rubles per share, in the full year, from 4.55 billion rubles, or 25.33 rubles per share.

As of March 23, US$1 was equivalent to 57.40 Russian rubles.