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KRE.KA. SA H1 loss widens 22.7% YOY

KRE.KA. SA said its normalized net income for the first half was a loss of 12 euro cents per share, compared with a loss of 9 cents 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 €823,230, compared with a loss of €671,060 in the year-earlier period.

Total revenue declined 7.2% on an annual basis to €10.9 million from €11.7 million, and total operating expenses decreased 6.7% on an annual basis to €11.1 million from €11.9 million.

Reported net income totaled a loss of €1.3 million, or a loss of 18 cents per share, compared to a loss of €1.1 million, or a loss of 15 cents per share, in the prior-year period.