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Archicom swings to profit in Q2

Archicom SA said its normalized net income for the second quarter amounted to 20 groszy per share, compared with a loss of 2.93 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.5 million zlotys, compared with a loss of 7.3 million zlotys in the prior-year period.

The normalized profit margin increased to 9.5% from negative 60.8% in the year-earlier period.

Total revenue grew on an annual basis to 47.2 million zlotys from 12.0 million zlotys, and total operating expenses rose 92.1% year over year to 39.8 million zlotys from 20.7 million zlotys.

Reported net income rose from the prior-year period to 16.5 million zlotys, or 72 groszy per share, from 498,560 zlotys, or 20 groszy per share.

As of Aug. 30, US$1 was equivalent to 3.91 zlotys.