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Sescom fiscal Q1 profit climbs 81.0% YOY

Sescom S.A. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 31 groszy per share, an increase of 78.9% from 17 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 662,710 zlotys, a gain of 81.0% from 366,040 zlotys in the year-earlier period.

The normalized profit margin declined to 4.4% from 5.2% in the year-earlier period.

Total revenue climbed on an annual basis to 14.9 million zlotys from 7.1 million zlotys, and total operating expenses increased from the prior-year period to 13.8 million zlotys from 6.5 million zlotys.

Reported net income increased 61.6% from the prior-year period to 871,470 zlotys, or 41 groszy per share, from 539,270 zlotys, or 26 groszy per share.

As of Feb. 12, US$1 was equivalent to 3.92 zlotys.