Badel 1862 d.d. said its second-quarter normalized net income amounted to 1.0 million kuna, a decrease of 58.5% from 2.4 million kuna in the year-earlier period.

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

The normalized profit margin fell to 1.3% from 2.9% in the year-earlier period.

Total revenue fell 6.7% on an annual basis to 79.3 million kuna from 85.0 million kuna, and total operating expenses decreased on an annual basis to 80.3 million kuna from 83.5 million kuna.

Reported net income totaled 1.8 million kuna, compared with 4.1 million kuna in the year-earlier period.

As of July 29, US$1 was equivalent to 6.69 kuna.