Odd Molly Q2 FY20: revenue SEK 38 mn; net loss SEK 11.2 mn

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Odd Molly International, a designer and seller of fashion and other lifestyle products for girls, posted 40 per cent decrease in its revenue to SEK 37.7 million during second quarter (Q2) for FY20 ended on June 30, 2020 compared to SEK 62.7 million in same period last year. Company incurred a net loss of SEK 11.2 million (Q2 FY19: SEK 19.2 million).

Company’s gross profit margin during the quarter rose to 62.2 percent compared to 50.6 per cent in Q2 FY19. However, operating loss came down to SEK 9.3 million (SEK 17.9 million).

The revenue for six months period have been reported to SEK 104.8 million, a 30 per cent decrease compared to SEK 148.9 million in the same period of FY19.

In April, the company applied for and granted aid under state aid packages as a result of the pandemic, which had a positive impact on the cash flow and earnings of the quarter.