Lanakam SA said its normalized net income for the first quarter came to €41,150, a rise of 44.0% from €28,580 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.6% from 4.7% in the year-earlier period.

Total revenue climbed year over year to €625,700 from €603,530, and total operating expenses grew from the prior-year period to €517,710 from €509,150.

Reported net income increased 60.4% from the prior-year period to €67,640, or 1 cents per share, from €42,160, or 1 cents per share.