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Forever Entertainment Q1 loss widens 47.3% YOY

Forever Entertainment S.A. said its normalized net income for the first quarter amounted to a loss of 148,350 zlotys, compared with a loss of 100,700 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 declined to negative 62.9% from negative 54.4% in the year-earlier period.

Total revenue rose 27.3% on an annual basis to 235,900 zlotys from 185,250 zlotys, and total operating expenses rose 35.4% on an annual basis to 469,650 zlotys from 346,980 zlotys.

Reported net income came to a loss of 227,350 zlotys, or a loss of 1 groszy per share, compared to a loss of 163,170 zlotys, or a loss of 1 groszy per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 3.85 zlotys.