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Rosinter Restaurants Holding H1 loss widens 37.8% YOY

Public Joint Stock Co. Rosinter Restaurants Holding said its normalized net income for the first half came to a loss of 10.83 Russian rubles per share, compared with a loss of 7.86 rubles 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 171.9 million rubles, compared with a loss of 124.7 million rubles in the prior-year period.

Total revenue decreased 6.5% year over year to 3.56 billion rubles from 3.81 billion rubles, and total operating expenses fell 6.6% on an annual basis to 3.61 billion rubles from 3.87 billion rubles.

Reported net income came to a loss of 188.6 million rubles, or a loss of 11.89 rubles per share, compared to a loss of 376.5 million rubles, or a loss of 23.73 rubles per share, in the prior-year period.

As of Aug. 29, US$1 was equivalent to 65.04 Russian rubles.