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Star Fitness Q2 loss narrows YOY

Star Fitness SA said its second-quarter normalized net income amounted to a loss of 3 groszy per share, compared with a loss of 9 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 690,620 zlotys, compared with a loss of 917,050 zlotys in the year-earlier period.

The normalized profit margin climbed to negative 18.0% from negative 61.5% in the year-earlier period.

Total revenue rose on an annual basis to 3.8 million zlotys from 1.5 million zlotys, and total operating expenses climbed 73.4% from the prior-year period to 4.9 million zlotys from 2.8 million zlotys.

Reported net income totaled a loss of 1.1 million zlotys, or a loss of 5 groszy per share, compared to a loss of 1.5 million zlotys, or a loss of 15 groszy per share, in the prior-year period.

As of Aug. 16, US$1 was equivalent to 3.80 zlotys.