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BG Agro AD Q1 profit falls YOY

BG Agro AD said its first-quarter normalized net income came to 3 stotinki per share, a decline of 26.6% from 4 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million leva, a decline of 26.6% from 1.6 million leva in the prior-year period.

The normalized profit margin climbed to 4.7% from 4.3% in the year-earlier period.

Total revenue fell 32.9% year over year to 25.3 million leva from 37.8 million leva, and total operating expenses declined 30.3% from the prior-year period to 26.1 million leva from 37.4 million leva.

Reported net income declined 26.6% from the prior-year period to 1.9 million leva, or 5 stotinki per share, from 2.6 million leva, or 6 stotinki per share.

As of May 30, US$1 was equivalent to 1.76 leva.