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Jamnica Q1 profit climbs 63.4% YOY

Jamnica d.d. said its normalized net income for the first quarter came to 17.6 million kuna, a gain of 63.4% from 10.7 million kuna 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 3.8% from 3.8% in the year-earlier period.

Total revenue grew 61.1% on an annual basis to 457.0 million kuna from 283.6 million kuna, and total operating expenses climbed 57.8% from the prior-year period to 437.3 million kuna from 277.1 million kuna.

Reported net income came to 22.1 million kuna, compared with 8.9 million kuna, or 402.78 kuna per share, in the year-earlier period.

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