Seko S.A. said its normalized net income for the first quarter amounted to 19 groszy per share, an increase from 18 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.3 million zlotys, an increase from 1.2 million zlotys in the year-earlier period.

The normalized profit margin declined to 3.4% from 3.5% in the year-earlier period.

Total revenue climbed on an annual basis to 36.5 million zlotys from 35.2 million zlotys, and total operating expenses increased from the prior-year period to 34.5 million zlotys from 33.5 million zlotys.

Reported net income increased from the prior-year period to 1.6 million zlotys, or 24 groszy per share, from 1.5 million zlotys, or 23 groszy per share.

As of May 6, US$1 was equivalent to 3.87 zlotys.