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KappAhl profit misses consensus by 50.7% in fiscal Q2

KappAhl AB said its normalized net income for the fiscal second quarter ended Feb. 28 came to 5 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 10 öre per share.

The per-share result swung to a profit from the prior-year loss of 4 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.8 million kronor, compared with a loss of 3.1 million kronor in the year-earlier period.

The normalized profit margin increased to 0.3% from negative 0.3% in the year-earlier period.

Total revenue increased year over year to 1.13 billion kronor from 1.11 billion kronor, and total operating expenses climbed year over year to 1.12 billion kronor from 1.11 billion kronor.

Reported net income totaled a loss of 3.0 million kronor, or a loss of 4 öre per share, compared to a loss of 6.8 million kronor, or a loss of 9 öre per share, in the year-earlier period.

As of April 16, US$1 was equivalent to 8.63 Swedish kronor.