Q2 net profit at Poland's Eurocash falls 19 pct y/y
Second-quarter net profit at Poland's largest food wholesale chain Eurocash fell an annual 19 percen…Second-quarter net profit at Poland's largest food wholesale chain Eurocash fell an annual 19 percent to 49.3 million zlotys ($15.6 million), the company said on Tuesday.
The result came in below analysts' expectations, who expected a 5 percent fall in the bottom line.
The company's second-quarter revenue rose 2 percent year-on-year, but higher costs of sales and overhead depressed the net profit.
Eurocash's performance has been affected by the cancellation of a major supply contract with Emperia, the owner of a large supermarket chain.