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Zvijezda Q2 profit falls YOY

Zvijezda d.d. said its normalized net income for the second quarter amounted to 8.6 million kuna, a decline of 6.3% from 9.1 million kuna in the year-earlier period.

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

The normalized profit margin rose to 4.1% from 3.8% in the year-earlier period.

Total revenue declined 11.9% year over year to 209.9 million kuna from 238.2 million kuna, and total operating expenses declined 13.1% year over year to 197.9 million kuna from 227.6 million kuna.

Reported net income came to 11.9 million kuna, compared with 12.7 million kuna in the year-earlier period.

As of July 29, US$1 was equivalent to 6.89 kuna.