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Wojas Q1 loss narrows YOY

Wojas S.A. said its normalized net income for the first quarter was a loss of 8 groszy per share, compared with a loss of 11 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 972,500 zlotys, compared with a loss of 1.4 million zlotys in the prior-year period.

The normalized profit margin climbed to negative 2.1% from negative 3.3% in the year-earlier period.

Total revenue rose 8.0% on an annual basis to 45.3 million zlotys from 41.9 million zlotys, and total operating expenses climbed 8.9% year over year to 45.9 million zlotys from 42.2 million zlotys.

Reported net income totaled a loss of 1.8 million zlotys, or a loss of 14 groszy per share, compared to a loss of 2.2 million zlotys, or a loss of 18 groszy per share, in the year-earlier period.

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