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Nordic Leisure swings to loss in Q2

Nordic Leisure AB said its normalized net income for the second quarter came to a loss of 162,830 kronor, compared with income of 550 kronor in the year-earlier period.

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

The normalized profit margin declined to negative 6.5% from 0.0% in the year-earlier period.

Total revenue climbed 60.0% on an annual basis to 2.5 million kronor from 1.6 million kronor, and total operating expenses grew 79.1% from the prior-year period to 2.8 million kronor from 1.5 million kronor.

Reported net income totaled a loss of 316,320 kronor, or a loss of 1 öre per share, compared to a loss of 4,480 kronor, or a loss of 0 öre per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 8.58 Swedish kronor.