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Acrebit Q1 profit climbs YOY

Acrebit SA said its normalized net income for the first quarter was 180,780 zlotys, a gain from 44,830 zlotys in the year-earlier period.

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

The normalized profit margin climbed to 29.6% from 2.0% in the year-earlier period.

Total revenue fell 72.5% on an annual basis to 610,090 zlotys from 2.2 million zlotys, and total operating expenses fell 84.8% on an annual basis to 328,380 zlotys from 2.2 million zlotys.

Reported net income totaled 312,690 zlotys, compared with 368,040 zlotys in the year-earlier period.

As of May 16, US$1 was equivalent to 3.85 zlotys.