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Zaklady Tluszczowe Kruszwica Q1 profit falls YOY

Zaklady Tluszczowe Kruszwica S.A. said its normalized net income for the first quarter came to 31 groszy per share, a decline of 77.4% from 1.35 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.0 million zlotys, a decrease of 77.4% from 31.1 million zlotys in the prior-year period.

The normalized profit margin declined to 1.4% from 5.1% in the year-earlier period.

Total revenue fell 10.2% year over year to 551.0 million zlotys from 613.7 million zlotys, and total operating expenses fell on an annual basis to 549.4 million zlotys from 571.4 million zlotys.

Reported net income fell 78.5% from the prior-year period to 8.7 million zlotys, or 38 groszy per share, from 40.6 million zlotys, or 1.77 zlotys per share.

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