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Ronson Europe Q1 loss widens 56.8% YOY

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Ronson Europe Q1 loss widens 56.8% YOY

Ronson Europe NV said its first-quarter normalized net income was a loss of 3.3 million zlotys, compared with a loss of 2.1 million zlotys in the year-earlier period.

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

The normalized profit margin dropped to negative 7.8% from negative 5.2% in the year-earlier period.

Total revenue rose on an annual basis to 41.9 million zlotys from 40.4 million zlotys, and total operating expenses rose 6.8% year over year to 45.6 million zlotys from 42.7 million zlotys.

Reported net income totaled a loss of 4.2 million zlotys, or a loss of 2 groszy per share, compared to a loss of 2.7 million zlotys, or a loss of 1 groszy per share, in the prior-year period.

As of May 6, US$1 was equivalent to 3.87 zlotys.