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Cloetta AB Q2 profit climbs 25.5% YOY

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Cloetta AB Q2 profit climbs 25.5% YOY

Cloetta AB said its normalized net income for the second quarter came to 26 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 29 öre per share.

EPS rose 25.7% year over year from 20 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 73.8 million kronor, an increase of 25.5% from 58.8 million kronor in the prior-year period.

The normalized profit margin rose to 6.4% from 4.6% in the year-earlier period.

Total revenue climbed 6.4% year over year to 1.36 billion kronor from 1.28 billion kronor, and total operating expenses grew 5.7% from the prior-year period to 1.21 billion kronor from 1.15 billion kronor.

Reported net income increased 17.3% on an annual basis to 77.3 million kronor, or 27 öre per share, from 66.0 million kronor, or 23 öre per share.

As of July 15, US$1 was equivalent to 8.53 Swedish kronor.