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AD Plastik swings to profit in Q1

AD Plastik d.d. said its normalized net income for the first quarter came to 8.9 million kuna, compared with a loss of 5.0 million 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 3.4% from negative 3.0% in the year-earlier period.

Total revenue climbed 55.7% year over year to 259.5 million kuna from 166.7 million kuna, and total operating expenses increased 37.8% on an annual basis to 245.3 million kuna from 178.1 million kuna.

Reported net income came to 14.3 million kuna, compared with a loss of 8.1 million kuna in the year-earlier period.

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