Werth-Holz SA said its normalized net income for the fiscal second quarter ended March 31 amounted to 1.1 million zlotys, an increase of 68.0% from 664,800 zlotys in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 6.1% from 5.7% in the year-earlier period.

Total revenue grew 57.3% on an annual basis to 18.3 million zlotys from 11.7 million zlotys, and total operating expenses rose 59.3% on an annual basis to 16.5 million zlotys from 10.3 million zlotys.

Reported net income came to 1.5 million zlotys, compared with 1.1 million zlotys in the year-earlier period.

As of May 15, US$1 was equivalent to 3.54 zlotys.