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Hollywood SA swings to loss in Q2

Hollywood SA said its normalized net income for the second quarter amounted to a loss of 1 groszy per share, compared with 3 groszy 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 563,340 zlotys, compared with income of 1.1 million zlotys in the prior-year period.

The normalized profit margin declined to 4.0% from 6.6% in the year-earlier period.

Total revenue climbed 13.9% on an annual basis to 18.4 million zlotys from 16.2 million zlotys, and total operating expenses climbed 35.2% year over year to 18.7 million zlotys from 13.8 million zlotys.

Reported net income declined 88.7% on an annual basis to 205,490 zlotys, or 0 groszy per share, from 1.8 million zlotys, or 6 groszy per share.

As of Aug. 16, US$1 was equivalent to 3.80 zlotys.