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New Nordic Healthbrands AB Q2 profit falls YOY

New Nordic Healthbrands AB said its normalized net income for the second quarter came to 16 Swedish öre per share, a decline of 44.4% from 29 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 990,000 kronor, a decline of 44.4% from 1.8 million kronor in the prior-year period.

The normalized profit margin dropped to 1.3% from 2.3% in the year-earlier period.

Total revenue totaled 76.0 million kronor, compared with 76.5 million kronor in the prior-year period, and total operating expenses grew on an annual basis to 74.2 million kronor from 73.0 million kronor.

Reported net income fell 32.2% year over year to 1.5 million kronor, or 24 öre per share, from 2.2 million kronor, or 36 öre per share.

As of July 29, US$1 was equivalent to 8.53 Swedish kronor.