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Mex Polska Q2 profit climbs YOY

Mex Polska SA said its second-quarter normalized net income came to 8 groszy per share, a decrease of 14.1% from 9 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 580,000 zlotys, an increase from 559,440 zlotys in the year-earlier period.

The normalized profit margin declined to 3.9% from 4.4% in the year-earlier period.

Total revenue grew 18.4% year over year to 14.9 million zlotys from 12.6 million zlotys, and total operating expenses grew 19.3% year over year to 13.6 million zlotys from 11.4 million zlotys.

Reported net income increased 36.1% on an annual basis to 904,130 zlotys, or 12 groszy per share, from 664,200 zlotys, or 10 groszy per share.

As of Aug. 26, US$1 was equivalent to 3.83 zlotys.