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Zaharni Zavodi Q2 profit climbs YOY

Zaharni Zavodi AD said its normalized net income for the second quarter came to 11 stotinki per share, a gain from 4 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million leva, a gain from 398,130 leva in the prior-year period.

The normalized profit margin rose to 3.1% from 1.3% in the year-earlier period.

Total revenue climbed 23.8% year over year to 37.5 million leva from 30.3 million leva, and total operating expenses rose 20.0% on an annual basis to 35.0 million leva from 29.1 million leva.

Reported net income grew from the prior-year period to 1.9 million leva, or 17 stotinki per share, from 642,000 leva, or 6 stotinki per share.

As of Aug. 25, US$1 was equivalent to 1.73 leva.