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Symbio Polska Q1 loss narrows YOY

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Symbio Polska Q1 loss narrows YOY

Symbio Polska SA said its first-quarter normalized net income was a loss of 1 groszy per share, compared with a loss of 9 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 48,810 zlotys, compared with a loss of 318,870 zlotys in the prior-year period.

The normalized profit margin rose to negative 0.7% from negative 8.1% in the year-earlier period.

Total revenue rose 88.4% year over year to 7.5 million zlotys from 4.0 million zlotys, and total operating expenses increased 69.1% on an annual basis to 7.4 million zlotys from 4.4 million zlotys.

Reported net income came to a loss of 126,600 zlotys, or a loss of 4 groszy per share, compared to a loss of 506,120 zlotys, or a loss of 15 groszy per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.90 zlotys.