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Novita profit holds mostly steady YOY in Q1

Novita SA said its normalized net income for the first quarter was 76 groszy per share, compared with 76 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 1.9 million zlotys, compared with 1.9 million zlotys in the year-earlier period.

The normalized profit margin climbed to 9.2% from 8.8% in the year-earlier period.

Total revenue fell on an annual basis to 20.5 million zlotys from 21.6 million zlotys, and total operating expenses declined 6.0% year over year to 17.4 million zlotys from 18.5 million zlotys.

Reported net income decreased 7.0% from the prior-year period to 2.3 million zlotys, or 92 groszy per share, from 2.5 million zlotys, or 99 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.