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Ronson Europe Q2 profit falls YOY

Ronson Europe NV said its second-quarter normalized net income amounted to 1 groszy per share, a decline of 7.2% from 1 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 3.7 million zlotys, a decrease of 7.2% from 3.9 million zlotys in the prior-year period.

The normalized profit margin dropped to 5.3% from 7.3% in the year-earlier period.

Total revenue climbed 28.9% on an annual basis to 69.4 million zlotys from 53.8 million zlotys, and total operating expenses increased 32.0% from the prior-year period to 60.6 million zlotys from 46.0 million zlotys.

Reported net income fell on an annual basis to 5.0 million zlotys, or 2 groszy per share, from 5.2 million zlotys, or 2 groszy per share.

As of Aug. 4, US$1 was equivalent to 3.85 zlotys.