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Badel 1862 d.d. swings to profit in Q2

Badel 1862 d.d. said its normalized net income for the second quarter amounted to 2.4 million kuna, compared with a loss of 5.7 million kuna 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 2.9% from negative 7.2% in the year-earlier period.

Total revenue rose 7.6% on an annual basis to 85.0 million kuna from 79.0 million kuna, and total operating expenses totaled 81.0 million kuna, compared with 80.8 million kuna in the prior-year period.

Reported net income came to 4.1 million kuna, compared with a loss of 9.1 million kuna in the prior-year period.

As of July 29, US$1 was equivalent to 6.89 kuna.