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Axkid AB swings to profit in H1

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Axkid AB swings to profit in H1

Axkid AB said its first-half normalized net income came to 20,000 kronor, compared with a loss of 1.2 million kronor in the prior-year period.

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

Total revenue grew 47.0% year over year to 19.3 million kronor from 13.1 million kronor, and total operating expenses grew 33.3% year over year to 19.8 million kronor from 14.8 million kronor.

Reported net income came to 18,000 kronor, or 0 öre per share, compared to a loss of 1.5 million kronor, or a loss of 21 öre per share, in the year-earlier period.

As of Aug. 24, US$1 was equivalent to 8.41 Swedish kronor.