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Imbalie Beauty swings to loss in fiscal H2

Imbalie Beauty Ltd. said its normalized net income for the fiscal second half ended Feb. 28 came to a loss of 1.2 million rand, compared with income of 311,960 rand in the year-earlier period.

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

Total revenue fell year over year to 42.7 million rand from 44.3 million rand, and total operating expenses climbed on an annual basis to 44.2 million rand from 43.7 million rand.

Reported net income came to a loss of 1.4 million rand, or a loss of 0 cents per share, compared to income of 396,470 rand, or 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 2.0 million rand, compared with income of 1.7 million rand in the prior year.

Full-year total revenue grew 5.2% year over year to 91.9 million rand from 87.4 million rand, and total operating expenses rose 12.4% on an annual basis to 94.1 million rand from 83.8 million rand.

The company said reported net income totaled a loss of 2.4 million rand, or a loss of 1 cents per share, in the full year, compared with income of 2.2 million rand, or 1 cents per share, the prior year.

As of Aug. 20, US$1 was equivalent to 12.92 rand.