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Bodegas Riojanas Q2 profit falls YOY

Bodegas Riojanas SA said its normalized net income for the second quarter amounted to 5 euro cents per share, a decrease from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €286,880, a decrease from €301,250 in the year-earlier period.

The normalized profit margin declined to 9.8% from 10.2% in the year-earlier period.

Total revenue totaled €2.9 million, compared with €2.9 million in the prior-year period, and total operating expenses grew 5.5% on an annual basis to €2.4 million from €2.3 million.

Reported net income decreased 8.0% from the prior-year period to €297,000, or 6 cents per share, from €323,000, or 6 cents per share.