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Eurocash profit misses consensus by 32.8% in Q2

Eurocash S.A. said its normalized net income for the second quarter was 27 groszy per share, compared with the S&P Capital IQ consensus estimate of 41 groszy per share.

EPS rose year over year from 27 groszy.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 38.0 million zlotys, a gain from 36.8 million zlotys in the year-earlier period.

The normalized profit margin fell to 0.7% from 0.9% in the year-earlier period.

Total revenue grew 20.8% on an annual basis to 5.18 billion zlotys from 4.29 billion zlotys, and total operating expenses grew 21.0% on an annual basis to 5.11 billion zlotys from 4.22 billion zlotys.

Reported net income fell year over year to 48.6 million zlotys, or 35 groszy per share, from 49.3 million zlotys, or 36 groszy per share.

As of Aug. 20, US$1 was equivalent to 3.74 zlotys.