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Ronson Europe swings to profit in Q2

Ronson Europe NV said its normalized net income for the second quarter was 3.9 million zlotys, compared with a loss of 305,750 zlotys in the prior-year period.

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

The normalized profit margin increased to 7.3% from negative 0.6% in the year-earlier period.

Total revenue climbed 14.3% year over year to 53.8 million zlotys from 47.1 million zlotys, and total operating expenses totaled 46.0 million zlotys, compared with 45.7 million zlotys in the prior-year period.

Reported net income grew from the prior-year period to 5.2 million zlotys, or 2 groszy per share, from 47,000 zlotys, or 0 groszy per share.

As of Aug. 6, US$1 was equivalent to 3.84 zlotys.