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Parmalat Q2 profit climbs 21.5% YOY

Parmalat S.p.A. said its second-quarter normalized net income came to 2 euro cents per share, an increase of 20.2% from 1 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 €31.7 million, a gain of 21.5% from €26.1 million in the year-earlier period.

The normalized profit margin climbed to 2.0% from 1.6% in the year-earlier period.

Total revenue fell year over year to €1.59 billion from €1.61 billion, and total operating expenses declined on an annual basis to €1.54 billion from €1.57 billion.

Reported net income grew 70.7% on an annual basis to €31.7 million, or 2 cents per share, from €18.6 million, or 1 cents per share.