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Philip Morris CR H2 profit climbs YOY

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Philip Morris CR H2 profit climbs YOY

Philip Morris CR as said its normalized net income for the second half came to 351.14 Czech koruny per share, a gain from 345.73 koruny per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 963.4 million koruny, a gain from 947.8 million koruny in the prior-year period.

Total revenue decreased 24.7% year over year to 5.76 billion koruny from 7.65 billion koruny, and total operating expenses fell 30.2% from the prior-year period to 4.26 billion koruny from 6.11 billion koruny.

Reported net income rose year over year to 1.23 billion koruny, or 446.86 koruny per share, from 1.20 billion koruny, or 439.21 koruny per share.

For the year, the company's normalized net income totaled 726.18 koruny per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 996.50 koruny.

EPS rose 13.5% from 639.89 koruny in the prior year.

Normalized net income was 1.99 billion koruny, a gain of 13.5% from 1.76 billion koruny in the prior year.

Full-year total revenue fell 22.7% from the prior-year period to 10.87 billion koruny from 14.05 billion koruny, and total operating expenses declined 31.1% year over year to 7.73 billion koruny from 11.21 billion koruny.

The company said reported net income increased 14.0% on an annual basis to 2.57 billion koruny, or 935.88 koruny per share, in the full year, from 2.25 billion koruny, or 821.13 koruny per share.

As of March 29, US$1 was equivalent to 24.20 Czech koruny.