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Interferie Q2 profit falls YOY

Interferie SA said its normalized net income for the second quarter came to 3 groszy per share, a decrease of 33.4% from 4 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 486,880 zlotys, a decrease of 15.2% from 574,380 zlotys in the year-earlier period.

The normalized profit margin fell to 2.1% from 5.6% in the year-earlier period.

Total revenue rose 8.0% on an annual basis to 11.2 million zlotys from 10.3 million zlotys, and total operating expenses rose 6.5% year over year to 10.1 million zlotys from 9.5 million zlotys.

Reported net income fell 68.3% year over year to 262,000 zlotys, or 1 groszy per share, from 827,000 zlotys, or 6 groszy per share.

As of Aug. 12, US$1 was equivalent to 3.82 zlotys.