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ÂŽItnjak Q1 profit climbs YOY

Žitnjak proizvodnja i promet robom d.d. said its first-quarter normalized net income was 2.59 kuna per share, an increase from 69 lipa per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 532,560 kuna, a gain from 141,200 kuna in the prior-year period.

The normalized profit margin increased to 4.1% from 2.4% in the year-earlier period.

Total revenue climbed year over year to 12.9 million kuna from 5.9 million kuna, and total operating expenses rose on an annual basis to 12.8 million kuna from 6.3 million kuna.

Reported net income increased on an annual basis to 852,100 kuna, or 4.14 kuna per share, from 225,910 kuna, or 1.10 kuna per share.

As of April 29, US$1 was equivalent to 6.55 kuna.