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S.C. Bermas Q1 loss narrows YOY

S.C. Bermas SA said its normalized net income for the first quarter amounted to 496,040 lei, compared with a loss of 755,940 lei in the prior-year period.

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

The normalized profit margin climbed to negative 14.4% from negative 26.2% in the year-earlier period.

Total revenue climbed 19.2% year over year to 3.4 million lei from 2.9 million lei, and total operating expenses increased on an annual basis to 4.1 million lei from 3.9 million lei.

Reported net income totaled a loss of 791,890 lei, compared with a loss of 1.2 million lei in the year-earlier period.

As of May 12, US$1 was equivalent to 3.94 Romanian lei.