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Suominen Q2 profit climbs YOY

Suominen Oyj said its normalized net income for the second quarter came to 9 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS rose 34.1% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.5 million, a gain from €2.7 million in the year-earlier period.

The normalized profit margin climbed to 4.9% from 2.8% in the year-earlier period.

Total revenue climbed 18.5% on an annual basis to €112.9 million from €95.3 million, and total operating expenses climbed 14.7% from the prior-year period to €103.0 million from €89.8 million.

Reported net income increased from the prior-year period to €6.2 million, or 10 cents per share, from €2.2 million, or 5 cents per share.