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ORGANIC Farma Zdrowia swings to loss in Q2

ORGANIC Farma Zdrowia SA said its second-quarter normalized net income came to 131,250 zlotys, compared with income of 218,750 zlotys in the prior-year period.

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

The normalized profit margin dropped to negative 0.1% from 1.1% in the year-earlier period.

Total revenue increased 14.1% year over year to 22.1 million zlotys from 19.4 million zlotys, and total operating expenses rose 16.2% year over year to 22.2 million zlotys from 19.1 million zlotys.

Reported net income totaled a loss of 379,000 zlotys, compared with income of 262,000 zlotys in the year-earlier period.

As of Aug. 12, US$1 was equivalent to 3.82 zlotys.