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Kofola CeskoSlovensko swings to profit in Q1

Kofola CeskoSlovensko a.s. said its normalized net income for the first quarter came to 61 groszy per share, compared with a loss of 8 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 16.0 million zlotys, compared with a loss of 2.0 million zlotys in the prior-year period.

The normalized profit margin climbed to 1.0% from negative 0.2% in the year-earlier period.

Total revenue declined year over year to 1.29 billion zlotys from 1.31 billion zlotys, and total operating expenses fell from the prior-year period to 1.25 billion zlotys from 1.28 billion zlotys.

Reported net income came to 22.0 million zlotys, or 84 groszy per share, compared to a loss of 9.3 million zlotys, or a loss of 36 groszy per share, in the prior-year period.

As of May 11, US$1 was equivalent to 3.64 zlotys.