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Star Fitness Q1 loss widens 14.9% YOY

Star Fitness SA said its first-quarter normalized net income was a loss of 11 groszy per share, compared with a loss of 10 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 1.1 million zlotys, compared with a loss of 958,750 zlotys in the prior-year period.

The normalized profit margin fell to negative 39.4% from negative 35.2% in the year-earlier period.

Total revenue climbed year over year to 2.8 million zlotys from 2.7 million zlotys, and total operating expenses grew 6.0% from the prior-year period to 4.3 million zlotys from 4.1 million zlotys.

Reported net income came to a loss of 1.8 million zlotys, or a loss of 18 groszy per share, compared to a loss of 1.5 million zlotys, or a loss of 16 groszy per share, in the prior-year period.

As of May 16, US$1 was equivalent to 3.85 zlotys.