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S.C. Bermas Q1 loss narrows YOY

S.C. Bermas SA said its normalized net income for the first quarter came to 755,940 lei, compared with a loss of 794,630 lei in the year-earlier period.

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

The normalized profit margin increased to negative 26.2% from negative 28.0% in the year-earlier period.

Total revenue rose on an annual basis to 2.9 million lei from 2.8 million lei, and total operating expenses came to 3.9 million lei, compared with 3.9 million lei in the year-earlier period.

Reported net income totaled a loss of 1.2 million lei, compared with a loss of 1.3 million lei in the year-earlier period.

As of May 14, US$1 was equivalent to 3.92 Romanian lei.