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Dufry swings to loss in Q2

Dufry AG said its second-quarter normalized net income was a loss of 38 Swiss centimes per share, compared with the S&P Capital IQ consensus estimate of CHF1.16 per share.

The per-share result swung to a loss from the prior-year profit of 48 centimes.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of CHF14.6 million, compared with income of CHF14.9 million in the year-earlier period.

The normalized profit margin dropped to negative 1.2% from 1.6% in the year-earlier period.

Total revenue rose 29.7% year over year to CHF1.21 billion from CHF932.9 million, and total operating expenses grew 35.4% from the prior-year period to CHF1.17 billion from CHF864.9 million.

Reported net income totaled a loss of CHF16.2 million, or a loss of 43 centimes per share, compared to income of CHF24.7 million, or 79 centimes per share, in the year-earlier period.