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Ebro Foods SA Q2 profit climbs 29.1% YOY

Ebro Foods SA said its second-quarter normalized net income amounted to 19 euro cents per share, a gain of 29.0% from 15 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €29.3 million, a gain of 29.1% from €22.7 million in the prior-year period.

The normalized profit margin increased to 4.8% from 4.7% in the year-earlier period.

Total revenue increased 22.5% year over year to €596.7 million from €487.1 million, and total operating expenses increased 21.6% from the prior-year period to €541.3 million from €445.3 million.

Reported net income decreased 20.9% on an annual basis to €28.1 million, or 18 cents per share, from €35.5 million, or 23 cents per share.