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Podravka Q1 profit climbs 23.3% YOY

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Podravka Q1 profit climbs 23.3% YOY

4911248 said its first-quarter normalized net income was 6.78 kuna per share, a decrease of 6.7% from 7.27 kuna per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.0 million kuna, an increase of 23.3% from 38.1 million kuna in the year-earlier period.

The normalized profit margin dropped to 4.8% from 5.0% in the year-earlier period.

Total revenue increased 36.2% on an annual basis to 1.03 billion kuna from 755.8 million kuna, and total operating expenses grew 31.7% on an annual basis to 946.3 million kuna from 718.5 million kuna.

Reported net income totaled 60.1 million kuna, or 8.66 kuna per share, compared to 59.8 million kuna, or 11.40 kuna per share, in the prior-year period.

s of April 29, US$1 was equivalent to 6.55 kuna.Podravka d.d.

4911248 said its first-quarter normalized net income was 6.78 kuna per share, a decrease of 6.7% from 7.27 kuna per share in the prior-year period.