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Adriatic Croatia International Club Q2 profit falls YOY

Adriatic Croatia International Club d.d. said its normalized net income for the second quarter was 41.50 kuna per share, a decrease of 14.1% from 48.33 kuna per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million kuna, a decrease of 14.1% from 5.4 million kuna in the prior-year period.

The normalized profit margin dropped to 10.7% from 13.0% in the year-earlier period.

Total revenue climbed year over year to 43.0 million kuna from 41.4 million kuna, and total operating expenses climbed 10.1% year over year to 36.1 million kuna from 32.8 million kuna.

Reported net income fell 14.1% on an annual basis to 7.4 million kuna, or 66.41 kuna per share, from 8.6 million kuna, or 77.33 kuna per share.

As of July 29, US$1 was equivalent to 6.69 kuna.