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FirstFarms Q2 loss narrows YOY

FirstFarms A/S said its second-quarter normalized net income came to a loss of 67 Danish øre per share, compared with a loss of 76 øre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.3 million kroner, compared with a loss of 3.8 million kroner in the year-earlier period.

The normalized profit margin increased to negative 24.4% from negative 24.6% in the year-earlier period.

Total revenue declined 11.9% on an annual basis to 13.4 million kroner from 15.3 million kroner, and total operating expenses decreased 15.5% from the prior-year period to 16.2 million kroner from 19.2 million kroner.

Reported net income totaled a loss of 243,000 kroner, or a loss of 5 øre per share, compared to a loss of 149,000 kroner, or a loss of 3 øre per share, in the prior-year period.

As of Aug. 30, US$1 was equivalent to 6.68 Danish kroner.