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AC SA Q2 profit climbs 8.8% YOY

AC SA said its normalized net income for the second quarter came to 76 groszy per share, an increase of 8.8% from 69 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 7.3 million zlotys, a gain of 8.8% from 6.7 million zlotys in the year-earlier period.

The normalized profit margin climbed to 15.5% from 13.0% in the year-earlier period.

Total revenue declined 9.1% year over year to 47.0 million zlotys from 51.7 million zlotys, and total operating expenses declined 12.6% on an annual basis to 35.8 million zlotys from 41.0 million zlotys.

Reported net income grew from the prior-year period to 9.0 million zlotys, or 93 groszy per share, from 8.7 million zlotys, or 90 groszy per share.

As of Aug. 6, US$1 was equivalent to 3.84 zlotys.