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Nafpaktos Textile Industry Q1 loss narrows YOY

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Nafpaktos Textile Industry Q1 loss narrows YOY

Nafpaktos Textile Industry SA said its normalized net income for the first quarter came to a loss of €79,350, compared with a loss of €317,460 in the prior-year period.

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

The normalized profit margin increased to negative 3.6% from negative 32.4% in the year-earlier period.

Total revenue grew on an annual basis to €2.2 million from €979,250, and total operating expenses grew 60.9% from the prior-year period to €2.3 million from €1.4 million.

Reported net income came to a loss of €131,180, or a loss of 1 cents per share, compared to a loss of €425,190, or a loss of 4 cents per share, in the year-earlier period.