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Robyg Q2 profit falls YOY

Robyg SA said its normalized net income for the second quarter came to 854,750 zlotys, a fall of 90.5% from 9.0 million zlotys in the year-earlier period.

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

The normalized profit margin dropped to 1.3% from 8.7% in the year-earlier period.

Total revenue decreased 37.0% year over year to 64.9 million zlotys from 102.9 million zlotys, and total operating expenses decreased 31.1% year over year to 64.6 million zlotys from 93.9 million zlotys.

Reported net income declined 89.7% year over year to 1.2 million zlotys, or 0 groszy per share, from 11.7 million zlotys, or 4 groszy per share.

As of Aug. 19, US$1 was equivalent to 3.78 zlotys.