Kopparbergs Bryggeri said its normalized net income for the first quarter came to 69 Swedish öre per share, a gain from 30 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 14.2 million kronor, an increase from 6.3 million kronor in the prior-year period.

The normalized profit margin increased to 4.3% from 2.1% in the year-earlier period.

Total revenue rose 10.3% on an annual basis to 326.8 million kronor from 296.4 million kronor, and total operating expenses rose 9.0% year over year to 301.5 million kronor from 276.7 million kronor.

Reported net income rose from the prior-year period to 15.2 million kronor, or 74 öre per share, from 7.1 million kronor, or 34 öre per share.

As of May 26, US$1 was equivalent to 8.46 Swedish kronor.