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Baltona Q1 loss narrows YOY

Przedsiebiorstwo Handlu Zagranicznego Baltona SA said its normalized net income for the first quarter came to a loss of 19 groszy per share, compared with a loss of 37 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.1 million zlotys, compared with a loss of 4.1 million zlotys in the prior-year period.

The normalized profit margin increased to negative 2.3% from negative 6.2% in the year-earlier period.

Total revenue rose 37.6% year over year to 91.9 million zlotys from 66.8 million zlotys, and total operating expenses grew 31.0% year over year to 94.5 million zlotys from 72.1 million zlotys.

Reported net income totaled a loss of 3.5 million zlotys, or a loss of 32 groszy per share, compared to a loss of 7.0 million zlotys, or a loss of 62 groszy per share, in the prior-year period.

As of May 14, US$1 was equivalent to 3.57 zlotys.