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Prehrambeno Industrijski Kombinat Q1 loss narrows YOY

Prehrambeno Industrijski Kombinat d.d. said its first-quarter normalized net income amounted to 248,040 kuna, compared with a loss of 281,640 kuna 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 negative 0.7% from negative 0.8% in the year-earlier period.

Total revenue rose on an annual basis to 35.5 million kuna from 34.1 million kuna, and total operating expenses grew on an annual basis to 36.5 million kuna from 35.2 million kuna.

Reported net income totaled a loss of 396,860 kuna, compared with a loss of 450,620 kuna in the prior-year period.

As of April 30, US$1 was equivalent to 6.75 kuna.