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Inter Cars Q2 profit climbs 22.2% YOY

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Inter Cars Q2 profit climbs 22.2% YOY

Inter Cars S.A. said its second-quarter normalized net income was 3.31 zlotys per share, an increase of 22.2% from 2.71 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 46.9 million zlotys, an increase of 22.2% from 38.4 million zlotys in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.2% in the year-earlier period.

Total revenue rose 30.1% on an annual basis to 1.56 billion zlotys from 1.20 billion zlotys, and total operating expenses grew 31.1% year over year to 1.48 billion zlotys from 1.13 billion zlotys.

Reported net income rose 20.3% on an annual basis to 63.0 million zlotys, or 4.45 zlotys per share, from 52.4 million zlotys, or 3.70 zlotys per share.

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