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Groupe Flo swings to loss in Q2

Groupe Flo SA said its second-quarter normalized net income came to a loss of 5 euro cents per share, compared with 6 cents 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 €1.9 million, compared with income of €2.4 million in the year-earlier period.

The normalized profit margin fell to negative 2.5% from 3.1% in the year-earlier period.

Total revenue decreased 5.0% on an annual basis to €74.1 million from €78.0 million, and total operating expenses rose on an annual basis to €76.1 million from €73.5 million.

Reported net income came to a loss of €5.9 million, or a loss of 15 cents per share, compared to income of €1.5 million, or 4 cents per share, in the prior-year period.