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Makarony Polskie Q1 profit climbs YOY

Makarony Polskie SA said its normalized net income for the first quarter amounted to 11 groszy per share, an increase from 11 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 1.1 million zlotys, an increase from 1.1 million zlotys in the prior-year period.

The normalized profit margin increased to 3.5% from 3.5% in the year-earlier period.

Total revenue rose year over year to 30.7 million zlotys from 30.1 million zlotys, and total operating expenses grew year over year to 28.7 million zlotys from 27.9 million zlotys.

Reported net income increased 16.0% year over year to 1.2 million zlotys, or 13 groszy per share, from 1.1 million zlotys, or 11 groszy per share.

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