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SC Conted Q2 profit climbs YOY

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SC Conted Q2 profit climbs YOY

S.C. Conted SA said its normalized net income for the second quarter amounted to 41 Romanian bani per share, an increase from 7 bani per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 98,750 lei, a gain from 16,170 lei in the prior-year period.

The normalized profit margin increased to 2.8% from 0.5% in the year-earlier period.

Total revenue increased year over year to 3.6 million lei from 3.5 million lei, and total operating expenses fell from the prior-year period to 3.4 million lei from 3.5 million lei.

Reported net income rose on an annual basis to 131,050 lei, or 54 bani per share, from 18,880 lei, or 8 bani per share.

As of Aug. 16, US$1 was equivalent to 3.96 Romanian lei.