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Jays AB fiscal Q1 loss widens 23.5% YOY

Jays Group AB (publ) said its normalized net income for the fiscal first quarter ended July 31 came to a loss of 12 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 16 öre per share.

The per-share loss increased 23.5% year over year from 9 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 857,670 kronor, compared with a loss of 694,700 kronor in the prior-year period.

The normalized profit margin climbed to negative 6.6% from negative 8.4% in the year-earlier period.

Total revenue grew 56.9% on an annual basis to 13.0 million kronor from 8.3 million kronor, and total operating expenses rose 51.5% year over year to 14.2 million kronor from 9.3 million kronor.

Reported net income came to a loss of 1.4 million kronor, or a loss of 19 öre per share, compared to a loss of 1.1 million kronor, or a loss of 15 öre per share, in the prior-year period.

As of Sept. 26, US$1 was equivalent to 7.26 Swedish kronor.