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Zur Rose Group swings to profit in H2

Zur Rose Group AG said its second-half normalized net income came to CHF6.6 million, compared with a loss of CHF316,880 in the prior-year period.

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

Total revenue fell 7.9% on an annual basis to CHF424.4 million from CHF460.6 million, and total operating expenses fell 9.6% year over year to CHF415.5 million from CHF459.5 million.

Reported net income totaled CHF5.5 million, compared with CHF7.1 million in the prior-year period.

For the year, the company's normalized net income totaled CHF2.22 per share, a decline of 16.3% from CHF2.66 per share in the prior year.

Normalized net income was CHF7.1 million, a fall of 16.5% from CHF8.5 million in the prior year.

Full-year total revenue decreased 8.9% year over year to CHF838.4 million from CHF920.4 million, and total operating expenses decreased 8.7% on an annual basis to CHF824.5 million from CHF903.0 million.

The company said reported net income declined 52.1% year over year to CHF3.4 million, or CHF1.07 per share, in the full year, from CHF7.2 million, or CHF2.23 per share.