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Lavena Q2 profit climbs 14.1% YOY

Lavena AD said its normalized net income for the second quarter came to 1.50 leva per share, an increase of 14.1% from 1.32 leva per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 400,630 leva, a gain of 14.1% from 351,250 leva in the prior-year period.

The normalized profit margin rose to 9.7% from 9.6% in the year-earlier period.

Total revenue rose 12.8% year over year to 4.1 million leva from 3.6 million leva, and total operating expenses grew 13.6% from the prior-year period to 3.3 million leva from 2.9 million leva.

Reported net income rose 15.2% on an annual basis to 585,000 leva, or 2.19 leva per share, from 508,000 leva, or 1.91 leva per share.

As of Aug. 19, US$1 was equivalent to 1.73 leva.