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Odd Molly Q2 loss narrows YOY

Odd Molly International AB said its normalized net income for the second quarter was a loss of 67 Swedish öre per share, compared with a loss of 73 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.8 million kronor, compared with a loss of 4.2 million kronor in the year-earlier period.

The normalized profit margin increased to negative 6.8% from negative 8.2% in the year-earlier period.

Total revenue grew 10.5% year over year to 56.5 million kronor from 51.2 million kronor, and total operating expenses rose 8.3% year over year to 62.7 million kronor from 57.9 million kronor.

Reported net income came to a loss of 4.9 million kronor, or a loss of 86 öre per share, compared to a loss of 5.7 million kronor, or a loss of 100 öre per share, in the year-earlier period.

As of Aug. 20, US$1 was equivalent to 8.50 Swedish kronor.