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Global Cosmed Q1 profit falls YOY

Global Cosmed SA said its first-quarter normalized net income was 4 groszy per share, a decline of 18.8% from 5 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 1.4 million zlotys, a decrease of 18.7% from 1.7 million zlotys in the prior-year period.

The normalized profit margin dropped to 2.4% from 4.6% in the year-earlier period.

Total revenue increased 54.8% on an annual basis to 55.7 million zlotys from 36.0 million zlotys, and total operating expenses increased 57.2% from the prior-year period to 52.4 million zlotys from 33.3 million zlotys.

Reported net income declined 42.8% year over year to 1.4 million zlotys, or 4 groszy per share, from 2.5 million zlotys, or 7 groszy per share.

As of May 6, US$1 was equivalent to 3.56 zlotys.