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Sanok Rubber Q1 profit climbs 7.4% YOY

Sanok Rubber Co. SA said its first-quarter normalized net income came to 53 groszy per share, a gain from 51 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 14.8 million zlotys, an increase of 7.4% from 13.7 million zlotys in the year-earlier period.

The normalized profit margin fell to 6.8% from 8.1% in the year-earlier period.

Total revenue increased 26.5% year over year to 216.0 million zlotys from 170.8 million zlotys, and total operating expenses increased 32.3% year over year to 195.7 million zlotys from 147.9 million zlotys.

Reported net income totaled 17.9 million zlotys, or 64 groszy per share, compared to 17.2 million zlotys, or 64 groszy per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 3.57 zlotys.