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SC Farmaceutica REMEDIA swings to loss in Q2

Farmaceutica REMEDIA S.A. said its second-quarter normalized net income amounted to 211,690 lei, compared with income of 221,770 lei in the year-earlier period.

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

The normalized profit margin declined to negative 0.3% from 0.4% in the year-earlier period.

Total revenue fell 9.8% year over year to 51.6 million lei from 57.2 million lei, and total operating expenses fell 9.4% on an annual basis to 51.5 million lei from 56.8 million lei.

Reported net income totaled a loss of 338,710 lei, compared with income of 291,920 lei in the prior-year period.

As of July 21, US$1 was equivalent to 4.04 Romanian lei.