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Cakovecki mlinovi Q2 profit climbs 17.3% YOY

Cakovecki mlinovi d.d. said its normalized net income for the second quarter was 6.9 million kuna, a rise of 17.3% from 5.9 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 rose to 2.4% from 2.2% in the year-earlier period.

Total revenue rose 7.7% on an annual basis to 288.7 million kuna from 268.2 million kuna, and total operating expenses rose 7.1% on an annual basis to 276.0 million kuna from 257.8 million kuna.

Reported net income totaled 10.5 million kuna, compared with 8.6 million kuna in the year-earlier period.

As of July 28, US$1 was equivalent to 6.88 kuna.