Vistula Group SA said its first-quarter normalized net income came to a loss of 1.6 million zlotys, compared with a loss of 1.8 million zlotys in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 1.5% from negative 2.0% in the year-earlier period.
Total revenue increased 17.2% year over year to 103.2 million zlotys from 88.1 million zlotys, and total operating expenses increased 15.2% on an annual basis to 101.9 million zlotys from 88.4 million zlotys.
Reported net income totaled a loss of 1.8 million zlotys, or a loss of 1 groszy per share, compared to a loss of 1.8 million zlotys, or a loss of 1 groszy per share, in the year-earlier period.
As of May 14, US$1 was equivalent to 3.57 zlotys.
