Dufry AG said its normalized net income for the first quarter came to a loss of CHF1.15 per share, compared with the S&P Capital IQ consensus estimate of CHF1.31 per share.

The per-share loss grew year over year from 20 centimes.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of CHF61.8 million, compared with a loss of CHF7.3 million in the year-earlier period.

The normalized profit margin dropped to negative 3.8% from negative 0.7% in the year-earlier period.

Total revenue climbed 60.0% on an annual basis to CHF1.63 billion from CHF1.02 billion, and total operating expenses rose 64.5% year over year to CHF1.67 billion from CHF1.02 billion.

Reported net income came to a loss of CHF85.6 million, or a loss of CHF1.59 per share, compared to a loss of CHF8.9 million, or a loss of 25 centimes per share, in the prior-year period.