CDRL S.A. said its normalized net income for the first quarter amounted to 10 groszy per share, a decline of 7.1% from 10 groszy per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 592,500 zlotys, a decrease from 621,250 zlotys in the year-earlier period.
The normalized profit margin declined to 1.3% from 1.6% in the year-earlier period.
Total revenue grew 13.9% year over year to 45.2 million zlotys from 39.6 million zlotys, and total operating expenses increased 16.5% from the prior-year period to 41.8 million zlotys from 35.9 million zlotys.
Reported net income rose 19.8% on an annual basis to 872,000 zlotys, or 14 groszy per share, from 728,000 zlotys, or 12 groszy per share.
As of May 13, US$1 was equivalent to 3.90 zlotys.