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US H&R Block reports USD105m loss in Q2  Join our daily free Newsletter

MENAFN - 08/12/2012

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(MENAFN) US largest tax preparation firm H&R Block reported a lower quarterly loss, on cost-cutting efforts and higher revenues.

The company turns in a loss in the August-to-October period because it takes in most of its revenue during the US tax season.

H&R Block said it incurred USD105.2 million net loss during its fiscal second quarter, down from USD141.7 million loss a year earlier.

Quarterly revenue grew 6 percent to USD137.3 million from USD129.2 million a year ago, the company added.

Selling, general and administrative expenses declined and the quarter was free of any impairment charges.

H&R Block, based in Kansas City, Mo., prepared 25.6 million tax returns worldwide in fiscal 2012.

 






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