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Prí³chnik Q2 profit climbs 24.0% YOY

Próchnik SA said its normalized net income for the second quarter amounted to 2 groszy per share, a decrease of 8.9% from 2 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 901,880 zlotys, an increase of 24.0% from 727,130 zlotys in the year-earlier period.

The normalized profit margin dropped to 0.7% from 7.2% in the year-earlier period.

Total revenue increased 53.7% on an annual basis to 15.5 million zlotys from 10.1 million zlotys, and total operating expenses climbed 59.8% year over year to 13.8 million zlotys from 8.7 million zlotys.

Reported net income increased from the prior-year period to 1.6 million zlotys, or 3 groszy per share, from 187,000 zlotys, or 1 groszy per share.

As of Aug. 30, US$1 was equivalent to 3.91 zlotys.