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Raisio profit misses consensus by 36.3% in Q2

Raisio PLC said its second-quarter normalized net income amounted to €6.7 million, a rise from €500,000 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 4.7% from 0.4% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to €141.5 million from €132.5 million, and total operating expenses totaled €130.4 million, compared with €131.7 million in the year-earlier period.

Reported net income increased year over year to €8.4 million, or 5 cents per share, from €700,000, or 0 cents per share.