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Louis Q1 loss widens 11.8% YOY

Louis PLC said its normalized net income for the first quarter was a loss of 3 euro cents per share, compared with a loss of 3 cents 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 €15.6 million, compared with a loss of €13.9 million in the prior-year period.

The normalized profit margin fell to negative 152.4% from negative 70.5% in the year-earlier period.

Total revenue grew on an annual basis to €20.4 million from €19.7 million, and total operating expenses climbed 8.2% from the prior-year period to €35.6 million from €32.9 million.

Reported net income came to a loss of €25.6 million, or a loss of 6 cents per share, compared to a loss of €22.0 million, or a loss of 5 cents per share, in the prior-year period.