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Symbio Polska Q2 loss narrows YOY

Symbio Polska SA said its normalized net income for the second quarter amounted to a loss of 5 groszy per share, compared with a loss of 11 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 337,770 zlotys, compared with a loss of 383,880 zlotys in the year-earlier period.

The normalized profit margin rose to negative 7.9% from negative 12.2% in the year-earlier period.

Total revenue grew 35.7% on an annual basis to 4.3 million zlotys from 3.2 million zlotys, and total operating expenses rose 29.3% on an annual basis to 4.8 million zlotys from 3.7 million zlotys.

Reported net income totaled a loss of 592,650 zlotys, or a loss of 9 groszy per share, compared to a loss of 625,660 zlotys, or a loss of 18 groszy per share, in the prior-year period.

As of Aug. 22, US$1 was equivalent to 3.80 zlotys.