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Nordic Leisure Q1 loss narrows YOY

Nordic Leisure AB said its first-quarter normalized net income amounted to a loss of 66,570 kronor, compared with a loss of 315,360 kronor in the prior-year period.

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

The normalized profit margin increased to negative 2.9% from negative 26.0% in the year-earlier period.

Total revenue rose 88.4% year over year to 2.3 million kronor from 1.2 million kronor, and total operating expenses increased 40.2% from the prior-year period to 2.4 million kronor from 1.7 million kronor.

Reported net income came to a loss of 112,980 kronor, or a loss of 0 öre per share, compared to a loss of 504,580 kronor, or a loss of 1 öre per share, in the year-earlier period.

As of May 6, US$1 was equivalent to 8.20 Swedish kronor.