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Slantse Stara Zagora Tabac Q2 loss widens YOY

Slantse Stara Zagora Tabac AD said its second-quarter normalized net income was a loss of 12 stotinki per share, compared with a loss of 5 stotinki 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 145,000 leva, compared with a loss of 56,250 leva in the year-earlier period.

The normalized profit margin declined to negative 8.9% from negative 3.3% in the year-earlier period.

Total revenue declined year over year to 1.6 million leva from 1.7 million leva, and total operating expenses came to 1.7 million leva, compared with 1.7 million leva in the prior-year period.

Reported net income came to a loss of 233,000 leva, or a loss of 20 stotinki per share, compared to a loss of 90,000 leva, or a loss of 8 stotinki per share, in the year-earlier period.

As of Aug. 18, US$1 was equivalent to 1.73 leva.