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Viscofan Q1 profit climbs 37.7% YOY

Viscofan SA said its normalized net income for the first quarter amounted to €24.8 million, a rise of 37.7% from €18.0 million in the prior-year period.

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

The normalized profit margin increased to 13.7% from 11.0% in the year-earlier period.

Total revenue grew 11.0% on an annual basis to €181.1 million from €163.1 million, and total operating expenses increased 5.0% year over year to €140.4 million from €133.8 million.

Reported net income totaled €30.0 million, compared with €21.9 million in the prior-year period.