Eurosnack SA said its first-quarter normalized net income amounted to 39,970 zlotys, a fall of 18.7% from 49,170 zlotys in the year-earlier period.

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

The normalized profit margin dropped to 1.2% from 1.6% in the year-earlier period.

Total revenue climbed 11.2% year over year to 3.4 million zlotys from 3.0 million zlotys, and total operating expenses increased 11.3% from the prior-year period to 3.3 million zlotys from 2.9 million zlotys.

Reported net income came to 63,950 zlotys, compared with 78,670 zlotys in the year-earlier period.

As of May 13, US$1 was equivalent to 3.90 zlotys.