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Cloetta AB Q2 profit climbs YOY

Cloetta AB said its second-quarter normalized net income was 20 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 22 öre per share.

EPS increased year over year from 4 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 56.9 million kronor, a gain from 11.9 million kronor in the prior-year period.

The normalized profit margin increased to 4.6% from 1.0% in the year-earlier period.

Total revenue rose on an annual basis to 1.28 billion kronor from 1.24 billion kronor, and total operating expenses totaled 1.15 billion kronor, compared with 1.15 billion kronor in the year-earlier period.

Reported net income rose year over year to 66.0 million kronor, or 23 öre per share, from 8.6 million kronor, or 3 öre per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.