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CDRL SpA Q2 profit falls YOY

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CDRL SpA Q2 profit falls YOY

CDRL S.A. said its normalized net income for the second quarter came to 63 groszy per share, a decrease of 38.1% from 1.01 zlotys per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.8 million zlotys, a decline of 7.6% from 4.1 million zlotys in the prior-year period.

The normalized profit margin fell to 7.2% from 9.5% in the year-earlier period.

Total revenue climbed 10.3% year over year to 47.6 million zlotys from 43.2 million zlotys, and total operating expenses rose 12.5% from the prior-year period to 42.3 million zlotys from 37.6 million zlotys.

Reported net income fell 11.6% on an annual basis to 4.9 million zlotys, or 82 groszy per share, from 5.6 million zlotys, or 1.38 zlotys per share.

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