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SC UAMT Q1 profit falls YOY

SC UAMT SA said its first-quarter normalized net income came to 4 Romanian bani per share, a decrease of 36.7% from 6 bani per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.4 million lei, a decline of 35.9% from 2.2 million lei in the prior-year period.

The normalized profit margin declined to 4.6% from 6.6% in the year-earlier period.

Total revenue decreased 7.7% on an annual basis to 31.3 million lei from 33.9 million lei, and total operating expenses decreased year over year to 29.0 million lei from 30.1 million lei.

Reported net income decreased 35.6% on an annual basis to 1.9 million lei, or 5 bani per share, from 3.0 million lei, or 8 bani per share.

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