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Podravka Q2 profit falls YOY

Podravka d.d. said its normalized net income for the second quarter was 30.4 million kuna, a decline of 27.6% from 42.0 million kuna in the prior-year period.

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

The normalized profit margin declined to 3.7% from 4.8% in the year-earlier period.

Total revenue declined year over year to 854.0 million kuna from 874.4 million kuna, and total operating expenses totaled 829.2 million kuna, compared with 828.9 million kuna in the year-earlier period.

Reported net income came to 32.0 million kuna, compared with 60.1 million kuna, or 11.47 kuna per share, in the prior-year period.

As of July 24, US$1 was equivalent to 6.91 kuna.