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Philip Morris CR profit misses consensus by 52.7% in H1

Philip Morris CR a.s. said its normalized net income for the first half came to 370.56 Czech koruny per share, compared with the S&P Capital IQ consensus estimate of 783.50 koruny per share.

EPS decreased year over year from 375.03 koruny.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.02 billion koruny, a decrease from 1.03 billion koruny in the year-earlier period.

Total revenue climbed 5.7% year over year to 5.40 billion koruny from 5.11 billion koruny, and total operating expenses increased 8.8% year over year to 3.77 billion koruny from 3.46 billion koruny.

Reported net income declined from the prior-year period to 1.32 billion koruny, or 480.00 koruny per share, from 1.34 billion koruny, or 489.00 koruny per share.

As of Aug. 19, US$1 was equivalent to 23.86 Czech koruny.