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West Indian Tobacco Q2 profit climbs 13.2% YOY

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West Indian Tobacco Q2 profit climbs 13.2% YOY

West Indian Tobacco Co. Ltd. said its second-quarter normalized net income came to TT$1.41 per share, a gain of 13.6% from TT$1.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was TT$118.9 million, a gain of 13.2% from TT$105.1 million in the year-earlier period.

The normalized profit margin rose to 42.1% from 40.0% in the year-earlier period.

Total revenue increased 7.5% on an annual basis to TT$282.6 million from TT$262.8 million, and total operating expenses declined year over year to TT$92.3 million from TT$94.7 million.

Reported net income rose 13.0% from the prior-year period to TT$143.1 million, or TT$1.70 per share, from TT$126.7 million, or TT$1.50 per share.

As of July 28, US$1 was equivalent to TT$6.32.