Metall Zug Group (METN.SW), a Swiss medical devices maker, on Monday reported first-half net loss compared to a profit last year, backed by decreased sales.
Looking ahead, Metall Zug said it expects sales and the operating result to stabilize in the second half of the year.
According to the firm, the sales decline was due to the deconsolidation of Belimed Infection Control and Belimed Life Science.
For the half year ended June 30, the firm reported a net loss attributable to shareholders of 9.80 million Swiss Francs, compared to a restated net income of 55.56 million Swiss Francs a year ago.
Net loss per A share was 2.18 francs, compared to a net profit of 12.35 francs a year ago.
EBIT declined to a loss of 12.59 million francs from a profit of 58.50 million francs a year ago.
Gross Profit decreased to 30.98 million francs from 57.92 million francs.
Net sales were 94.22 million francs, lower than 181.17 million francs in the year ago.
In the Swiss market, Metall Zug shares were trading 3.60% lower at 964 francs.
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