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Clemondo Group Q2 loss widens 21.4% YOY

Clemondo Group AB said its second-quarter normalized net income amounted to 1.7 million kronor, compared with a loss of 1.4 million kronor in the prior-year period.

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

The normalized profit margin rose to negative 4.2% from negative 4.3% in the year-earlier period.

Total revenue increased 22.6% year over year to 40.5 million kronor from 33.1 million kronor, and total operating expenses climbed 21.8% year over year to 42.6 million kronor from 35.0 million kronor.

Reported net income came to a loss of 2.1 million kronor, compared with a loss of 2.3 million kronor, or a loss of 18 öre per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 8.39 Swedish kronor.