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SFCMC fiscal H1 loss widens 36.4% YOY

Société Fermière du Casino Municipal de Cannes said its normalized net income for the fiscal first half ended April 30 came to a loss of €26.12 per share, compared with a loss of €19.16 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 €4.6 million, compared with a loss of €3.4 million in the prior-year period.

Total revenue decreased on an annual basis to €31.7 million from €32.2 million, and total operating expenses rose from the prior-year period to €39.2 million from €37.7 million.

Reported net income came to a loss of €4.7 million, or a loss of €27.09 per share, compared to a loss of €3.4 million, or a loss of €19.38 per share, in the year-earlier period.