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Dufry profit misses consensus by 96.4% in Q2

Dufry AG said its normalized net income for the second quarter amounted to 7 Swiss centimes per share, compared with the S&P Capital IQ consensus estimate of CHF1.83 per share.

The per-share result swung to a profit from the prior-year loss of 38 centimes.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was CHF3.5 million, compared with a loss of CHF14.6 million in the prior-year period.

The normalized profit margin climbed to 0.2% from negative 1.2% in the year-earlier period.

Total revenue rose 63.7% on an annual basis to CHF1.98 billion from CHF1.21 billion, and total operating expenses rose 63.2% year over year to CHF1.91 billion from CHF1.17 billion.

Reported net income came to CHF10.6 million, or 20 centimes per share, compared to a loss of CHF16.2 million, or a loss of 43 centimes per share, in the year-earlier period.