Werth-Holz SA said its normalized net income for the fiscal second quarter ended March 31 amounted to 1.8 million zlotys, a rise of 60.6% from 1.1 million zlotys 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 9.5% from 6.1% in the year-earlier period.

Total revenue grew year over year to 18.9 million zlotys from 18.3 million zlotys, and total operating expenses decreased on an annual basis to 15.8 million zlotys from 16.5 million zlotys.

Reported net income came to 1.9 million zlotys, compared with 1.5 million zlotys in the year-earlier period.

As of May 13, US$1 was equivalent to 3.90 zlotys.