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AC SA Q1 profit climbs 6.6% YOY

AC Spólka Akcyjna said its normalized net income for the first quarter came to 63 groszy per share, a gain of 5.8% from 59 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 6.1 million zlotys, an increase of 6.6% from 5.7 million zlotys in the prior-year period.

The normalized profit margin declined to 13.5% from 13.8% in the year-earlier period.

Total revenue grew 8.5% on an annual basis to 45.3 million zlotys from 41.7 million zlotys, and total operating expenses climbed 7.2% from the prior-year period to 35.6 million zlotys from 33.2 million zlotys.

Reported net income increased 7.3% year over year to 7.8 million zlotys, or 80 groszy per share, from 7.3 million zlotys, or 75 groszy per share.

As of May 5, US$1 was equivalent to 3.88 zlotys.