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Eurosnack swings to loss in Q2

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Eurosnack swings to loss in Q2

Eurosnack SA said its second-quarter normalized net income came to 7,930 zlotys, compared with income of 19,780 zlotys in the year-earlier period.

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

The normalized profit margin dropped to negative 0.2% from 0.7% in the year-earlier period.

Total revenue rose 27.4% year over year to 3.8 million zlotys from 3.0 million zlotys, and total operating expenses grew 30.0% from the prior-year period to 3.8 million zlotys from 2.9 million zlotys.

Reported net income totaled a loss of 12,680 zlotys, compared with income of 31,640 zlotys in the year-earlier period.

As of Aug. 16, US$1 was equivalent to 3.80 zlotys.