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Star Fitness Q1 loss widens YOY

Star Fitness SA said its first-quarter normalized net income came to a loss of 10 groszy per share, compared with a loss of 15 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 958,750 zlotys, compared with a loss of 299,420 zlotys in the prior-year period.

The normalized profit margin fell to negative 35.2% from negative 16.0% in the year-earlier period.

Total revenue rose 45.4% on an annual basis to 2.7 million zlotys from 1.9 million zlotys, and total operating expenses climbed 78.8% on an annual basis to 4.1 million zlotys from 2.3 million zlotys.

Reported net income totaled a loss of 1.5 million zlotys, or a loss of 16 groszy per share, compared to a loss of 479,080 zlotys, or a loss of 25 groszy per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.60 zlotys.