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Metalac H1 profit climbs 43.0% YOY

Metalac a.d. Gornji Milanovac said its first-half normalized net income was 92.11 Serbian dinars per share, a decrease of 28.5% from 128.82 dinars per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 187.9 million dinars, an increase of 43.0% from 131.4 million dinars in the year-earlier period.

Total revenue increased 19.7% year over year to 3.80 billion dinars from 3.18 billion dinars, and total operating expenses rose 17.4% on an annual basis to 3.56 billion dinars from 3.03 billion dinars.

Reported net income rose 34.2% from the prior-year period to 331.1 million dinars, or 162.29 dinars per share, from 246.6 million dinars, or 241.80 dinars per share.

As of Aug. 15, US$1 was equivalent to 110.05 Serbian dinars.