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West Indian Tobacco Q2 profit climbs YOY

West Indian Tobacco Co. Ltd. said its second-quarter normalized net income was TT$1.47 per share, an increase from TT$1.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$124.1 million, a gain from TT$118.9 million in the year-earlier period.

The normalized profit margin increased to 43.1% from 42.1% in the year-earlier period.

Total revenue grew year over year to TT$288.1 million from TT$282.6 million, and total operating expenses declined from the prior-year period to TT$89.6 million from TT$92.3 million.

Reported net income rose from the prior-year period to TT$147.7 million, or TT$1.75 per share, from TT$143.1 million, or TT$1.70 per share.

As of July 28, US$1 was equivalent to TT$6.70.