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Swedol Q2 profit climbs 26.9% YOY

Swedol AB said its normalized net income for the second quarter came to 21 Swedish öre per share, a gain of 26.9% from 16 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.3 million kronor, a gain of 26.9% from 10.4 million kronor in the prior-year period.

The normalized profit margin increased to 3.4% from 3.0% in the year-earlier period.

Total revenue increased 13.4% year over year to 393.2 million kronor from 346.7 million kronor, and total operating expenses grew 12.6% from the prior-year period to 371.6 million kronor from 329.9 million kronor.

Reported net income increased 26.7% from the prior-year period to 16.6 million kronor, or 26 öre per share, from 13.1 million kronor, or 20 öre per share.

As of Aug. 19, US$1 was equivalent to 8.58 Swedish kronor.