CEWE Stiftung & Co. KGaA (CWC.DE) Thursday reported a loss before tax of 3.9 million euros for the second quarter, higher than 2.5 million euros loss in the same quarter a year ago, despite increase in turnover.
Earnings before interest and taxes or EBIT was a loss of 4 million euros, wider than 2.9 million euros loss last year. Excluding special items, EBIT loss increased to 3.4 million euros from 2.1 million euros loss.
Turnover for the quarter, however, increased 3.1% to 156 million euros from 151.3 million euros in the previous-year quarter, with 3.9% growth in core Photofinishing business.
For the full year, the company has confirmed its outlook. It expects turnover to increase by up to 4% to the range of 835 million euros- 865 million euros; EBIT in the range of 84 million euros - 92 million euros; earnings before tax between 83.5 million euros and 91.5 million euros; and net income after taxes between 58 million euros and 63 million euros.
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