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Badel 1862 d.d. swings to profit in Q1

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Badel 1862 d.d. swings to profit in Q1

Badel 1862 d.d. said its first-quarter normalized net income came to 3.3 million kuna, compared with a loss of 7.4 million kuna in the year-earlier period.

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

The normalized profit margin climbed to 4.4% from negative 10.7% in the year-earlier period.

Total revenue increased 9.8% year over year to 75.7 million kuna from 68.9 million kuna, and total operating expenses fell on an annual basis to 69.2 million kuna from 70.0 million kuna.

Reported net income totaled 5.5 million kuna, compared with a loss of 11.8 million kuna in the year-earlier period.

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