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Astarta Holding swings to profit in Q2

Astarta Holding NV said its second-quarter normalized net income came to 13.52 hryvnia per share, compared with a loss of 15 kopiykas per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 335.9 million hryvnia, compared with a loss of 3.6 million hryvnia in the prior-year period.

The normalized profit margin increased to 20.1% from negative 0.3% in the year-earlier period.

Total revenue increased 24.6% year over year to 1.67 billion hryvnia from 1.34 billion hryvnia, and total operating expenses increased 37.6% year over year to 1.36 billion hryvnia from 991.4 million hryvnia.

Reported net income increased 79.9% on an annual basis to 1.23 billion hryvnia, or 49.61 hryvnia per share, from 685.2 million hryvnia, or 27.52 hryvnia per share.

As of Aug. 18, US$1 was equivalent to 22.10 hryvnia.