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French Connection fiscal H1 loss widens 98.4% YOY

French Connection Group PLC said its normalized net income for the fiscal first half ended July 31 came to a loss of 5 Great British pence per share, compared with a loss of 2 pence 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 £4.6 million, compared with a loss of £2.3 million in the year-earlier period.

Total revenue fell 9.8% on an annual basis to £75.8 million from £84.0 million, and total operating expenses declined 5.0% from the prior-year period to £83.6 million from £88.0 million.

Reported net income totaled a loss of £7.6 million, or a loss of 8 pence per share, compared to a loss of £3.8 million, or a loss of 4 pence per share, in the prior-year period.