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Browar Czarnkí³w Q2 loss narrows YOY

Browar Czarnków SA said its second-quarter normalized net income was a loss of 4 groszy per share, compared with a loss of 8 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 398,260 zlotys, compared with a loss of 483,080 zlotys in the year-earlier period.

The normalized profit margin climbed to negative 10.2% from negative 17.7% in the year-earlier period.

Total revenue rose 43.8% year over year to 3.9 million zlotys from 2.7 million zlotys, and total operating expenses grew 28.6% year over year to 4.2 million zlotys from 3.3 million zlotys.

Reported net income came to a loss of 604,450 zlotys, or a loss of 6 groszy per share, compared to a loss of 812,510 zlotys, or a loss of 13 groszy per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to 3.81 zlotys.