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Estoril Sol Q2 profit climbs YOY

Estoril Sol SGPS S.A. said its second-quarter normalized net income amounted to €574,860, a rise from €74,820 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.2% from 0.2% in the year-earlier period.

Total revenue grew year over year to €46.8 million from €46.3 million, and total operating expenses totaled €45.0 million, compared with €44.9 million in the year-earlier period.

Reported net income grew on an annual basis to €916,390, or 8 cents per share, from €106,270, or 1 cents per share.