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Scottish Salmon Co. Q1 loss widens 45.9% YOY

The Scottish Salmon Co. PLC said its first-quarter normalized net income came to a loss of £935,630, compared with a loss of £641,250 in the year-earlier period.

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

The normalized profit margin fell to negative 3.2% from negative 2.3% in the year-earlier period.

Total revenue climbed 6.5% year over year to £29.1 million from £27.3 million, and total operating expenses increased year over year to £29.6 million from £28.5 million.

Reported net income totaled a loss of £1.1 million, or a loss of 1 pence per share, compared to a loss of £953,000, or a loss of 1 pence per share, in the year-earlier period.