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Mr Green & Co. Q2 profit falls YOY

Mr Green & Co. AB said its second-quarter normalized net income came to 43 Swedish öre per share, compared with 44 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 15.6 million kronor, compared with 15.7 million kronor in the prior-year period.

The normalized profit margin declined to 8.0% from 9.7% in the year-earlier period.

Total revenue grew 20.7% on an annual basis to 194.8 million kronor from 161.4 million kronor, and total operating expenses rose 25.0% from the prior-year period to 169.8 million kronor from 135.9 million kronor.

Reported net income declined 13.6% from the prior-year period to 20.1 million kronor, or 56 öre per share, from 23.2 million kronor, or 65 öre per share.

As of Aug. 14, US$1 was equivalent to 8.51 Swedish kronor.