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Hurtimex Q2 loss narrows YOY

Hurtimex SA said its second-quarter normalized net income came to a loss of 61,610 zlotys, compared with a loss of 180,930 zlotys in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 3.0% from negative 6.7% in the year-earlier period.

Total revenue declined 23.0% year over year to 2.1 million zlotys from 2.7 million zlotys, and total operating expenses fell 25.8% on an annual basis to 2.2 million zlotys from 2.9 million zlotys.

Reported net income came to a loss of 59,800 zlotys, or a loss of 0 groszy per share, compared to a loss of 245,590 zlotys, or a loss of 1 groszy per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 3.82 zlotys.