KABE AB said its first-quarter normalized net income came to 1.90 Swedish kronor per share, a gain from 1.81 kronor per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.9 million kronor, a gain from 16.3 million kronor in the prior-year period.

The normalized profit margin climbed to 4.7% from 4.7% in the year-earlier period.

Total revenue grew year over year to 358.0 million kronor from 349.0 million kronor, and total operating expenses increased year over year to 330.0 million kronor from 323.0 million kronor.

Reported net income grew 5.0% from the prior-year period to 21.0 million kronor, or 2.36 kronor per share, from 20.0 million kronor, or 2.23 kronor per share.

As of May 19, US$1 was equivalent to 8.36 Swedish kronor.