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Olvi Q2 profit climbs 34.2% YOY

Olvi Oyj said its second-quarter normalized net income came to 46 euro cents per share, compared with the S&P Capital IQ consensus estimate of 53 cents per share.

EPS rose 34.9% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €9.5 million, a gain of 34.2% from €7.0 million in the year-earlier period.

The normalized profit margin rose to 9.7% from 7.7% in the year-earlier period.

Total revenue rose 7.3% on an annual basis to €97.9 million from €91.2 million, and total operating expenses grew 6.5% on an annual basis to €82.3 million from €77.3 million.

Reported net income grew 42.8% from the prior-year period to €11.6 million, or 56 cents per share, from €8.1 million, or 39 cents per share.