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Kurzemes CMAS Q2 loss narrows YOY

AS Kurzemes Ciltslietu un Maksligas Apseklosanas Stacija said its second-quarter normalized net income amounted to a loss of 1 euro cents per share, compared with a loss of 3 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 €8,760, compared with a loss of €35,520 in the prior-year period.

The normalized profit margin increased to negative 3.5% from negative 16.6% in the year-earlier period.

Total revenue climbed 13.9% year over year to €243,230 from €213,610, and total operating expenses fell on an annual basis to €256,960 from €270,170.

Reported net income totaled a loss of €13,210, or a loss of 2 cents per share, compared to a loss of €56,750, or a loss of 5 cents per share, in the year-earlier period.