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Korres Q1 profit climbs YOY

Korres SA Natural Products said its normalized net income for the first quarter was 13 euro cents per share, an increase from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.8 million, an increase from €367,280 in the year-earlier period.

The normalized profit margin rose to 10.6% from 2.9% in the year-earlier period.

Total revenue grew 34.7% year over year to €16.9 million from €12.5 million, and total operating expenses increased 20.3% from the prior-year period to €13.9 million from €11.5 million.

Reported net income grew on an annual basis to €1.5 million, or 11 cents per share, from €308,410, or 2 cents per share.