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Mackmyra Svensk Whisky Q1 loss narrows YOY

Mackmyra Svensk Whisky AB said its first-quarter normalized net income was a loss of 57 Swedish öre per share, compared with a loss of 1.41 kronor per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.7 million kronor, compared with a loss of 5.7 million kronor in the year-earlier period.

The normalized profit margin climbed to negative 34.2% from negative 69.2% in the year-earlier period.

Total revenue grew 65.6% on an annual basis to 13.7 million kronor from 8.3 million kronor, and total operating expenses climbed 20.0% year over year to 18.5 million kronor from 15.4 million kronor.

Reported net income totaled a loss of 7.5 million kronor, or a loss of 92 öre per share, compared to a loss of 9.2 million kronor, or a loss of 2.25 kronor per share, in the prior-year period.

As of May 20, US$1 was equivalent to 8.36 Swedish kronor.