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Wilbo Q2 profit falls YOY

Wilbo S.A. said its second-quarter normalized net income came to 3,130 zlotys, a decline of 89.3% from 29,380 zlotys in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.0% from 0.3% in the year-earlier period.

Total revenue decreased 12.0% year over year to 8.2 million zlotys from 9.3 million zlotys, and total operating expenses declined 11.8% year over year to 8.2 million zlotys from 9.2 million zlotys.

Reported net income decreased 89.4% year over year to 5,000 zlotys, or 0 groszy per share, from 47,000 zlotys, or 0 groszy per share.

As of Aug. 30, US$1 was equivalent to 3.91 zlotys.