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French Connection fiscal H1 loss narrows YOY

French Connection Group PLC said its normalized net income for the fiscal first half ended July 31 was a loss of 2 Great British pence per share, compared with a loss of 4 pence 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 £2.3 million, compared with a loss of £3.8 million in the year-earlier period.

Total revenue decreased 6.6% on an annual basis to £84.0 million from £89.9 million, and total operating expenses fell 8.7% from the prior-year period to £88.0 million from £96.4 million.

Reported net income totaled a loss of £3.9 million, or a loss of 4 pence per share, compared to a loss of £6.1 million, or a loss of 6 pence per share, in the year-earlier period.