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CCC profit misses consensus by 77.1% in Q1

CCC S.A. said its first-quarter normalized net income was 1 groszy per share, compared with the S&P Capital IQ consensus estimate of 6 groszy per share.

EPS decreased 56.7% year over year from 3 groszy.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 576,250 zlotys, a decline of 58.3% from 1.4 million zlotys in the year-earlier period.

The normalized profit margin rose to 1.4% from 0.4% in the year-earlier period.

Total revenue climbed 20.1% year over year to 431.9 million zlotys from 359.7 million zlotys, and total operating expenses increased 18.9% on an annual basis to 421.5 million zlotys from 354.7 million zlotys.

Reported net income rose on an annual basis to 6.4 million zlotys, or 16 groszy per share, from 416,000 zlotys, or 1 groszy per share.

As of May 7, US$1 was equivalent to 3.60 zlotys.