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AC SA Q2 profit falls YOY

AC Spólka Akcyjna said its second-quarter normalized net income amounted to 74 groszy per share, a decline from 76 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.2 million zlotys, a decline from 7.3 million zlotys in the year-earlier period.

The normalized profit margin fell to 13.9% from 15.5% in the year-earlier period.

Total revenue grew 10.1% on an annual basis to 51.7 million zlotys from 47.0 million zlotys, and total operating expenses increased 13.0% from the prior-year period to 40.5 million zlotys from 35.8 million zlotys.

Reported net income grew on an annual basis to 9.3 million zlotys, or 95 groszy per share, from 9.0 million zlotys, or 93 groszy per share.

As of Aug. 5, US$1 was equivalent to 3.87 zlotys.