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Kras Q1 profit climbs 25.6% YOY

Kras d.d. said its first-quarter normalized net income was 1.3 million kuna, a gain of 25.6% from 1.0 million kuna in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.6% from 0.5% in the year-earlier period.

Total revenue grew 8.4% year over year to 201.2 million kuna from 185.7 million kuna, and total operating expenses grew 10.3% from the prior-year period to 200.8 million kuna from 182.1 million kuna.

Reported net income totaled 1.4 million kuna, compared with 1.2 million kuna in the prior-year period.

As of April 30, US$1 was equivalent to 6.75 kuna.