Dukat mlijecna industrija d.d. said its second-quarter normalized net income amounted to 8.69 kuna per share, an increase from 1.43 kuna per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.1 million kuna, an increase from 4.3 million kuna in the prior-year period.

The normalized profit margin climbed to 3.0% from 0.5% in the year-earlier period.

Total revenue fell 6.6% on an annual basis to 863.5 million kuna from 924.7 million kuna, and total operating expenses declined 10.6% year over year to 818.6 million kuna from 915.7 million kuna.

Reported net income increased year over year to 38.1 million kuna, or 12.69 kuna per share, from 5.3 million kuna, or 1.78 kuna per share.

As of July 24, US$1 was equivalent to 6.91 kuna.