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CUBE.ITG Q1 loss widens 59.6% YOY

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CUBE.ITG Q1 loss widens 59.6% YOY

CUBE.ITG SA said its first-quarter normalized net income came to a loss of 12 groszy per share, compared with a loss of 9 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 a loss of 1.1 million zlotys, compared with a loss of 661,880 zlotys in the prior-year period.

The normalized profit margin fell to negative 4.1% from negative 2.8% in the year-earlier period.

Total revenue rose 8.4% year over year to 25.9 million zlotys from 23.9 million zlotys, and total operating expenses fell from the prior-year period to 23.7 million zlotys from 24.2 million zlotys.

Reported net income came to a loss of 270,730 zlotys, or a loss of 3 groszy per share, compared to a loss of 1.1 million zlotys, or a loss of 14 groszy per share, in the prior-year period.

As of May 12, US$1 was equivalent to 3.87 zlotys.