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ÂŽItnjak Q2 profit falls YOY

Žitnjak proizvodnja i promet robom d.d. said its second-quarter normalized net income was 1.12 kuna per share, a decrease of 40.9% from 1.90 kuna per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 231,040 kuna, a decrease of 40.9% from 390,650 kuna in the prior-year period.

The normalized profit margin declined to 3.3% from 6.5% in the year-earlier period.

Total revenue climbed 15.4% year over year to 7.0 million kuna from 6.0 million kuna, and total operating expenses climbed 18.1% from the prior-year period to 7.3 million kuna from 6.2 million kuna.

Reported net income fell 40.9% year over year to 369,670 kuna, or 1.80 kuna per share, from 625,040 kuna, or 3.04 kuna per share.

As of July 29, US$1 was equivalent to 6.69 kuna.