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ESOTIQ & Henderson swings to loss in Q2


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ESOTIQ & Henderson swings to loss in Q2

ESOTIQ & Henderson SA said its second-quarter normalized net income came to a loss of 10 groszy per share, compared with 26 groszy 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 233,130 zlotys, compared with income of 472,130 zlotys in the prior-year period.

The normalized profit margin fell to negative 0.7% from 1.6% in the year-earlier period.

Total revenue rose 14.2% on an annual basis to 33.9 million zlotys from 29.6 million zlotys, and total operating expenses increased 18.2% from the prior-year period to 34.5 million zlotys from 29.2 million zlotys.

Reported net income came to a loss of 427,000 zlotys, or a loss of 19 groszy per share, compared to income of 18,000 zlotys, or 1 groszy per share, in the prior-year period.

As of Sept. 29, US$1 was equivalent to 3.84 zlotys.