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Lomsko Pivo Q2 profit falls YOY

Lomsko Pivo AD said its second-quarter normalized net income came to 23,750 leva, a fall of 26.9% from 32,500 leva in the prior-year period.

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

The normalized profit margin rose to 1.0% from 1.0% in the year-earlier period.

Total revenue decreased 22.1% year over year to 2.7 million leva from 3.4 million leva, and total operating expenses fell 22.6% year over year to 2.6 million leva from 3.3 million leva.

Reported net income declined 81.6% on an annual basis to 9,000 leva, or 0 stotinki per share, from 49,000 leva, or 1 stotinki per share.

As of July 29, US$1 was equivalent to 1.75 leva.