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Cakovecki mlinovi Q1 profit climbs YOY

Cakovecki mlinovi d.d. said its normalized net income for the first quarter came to 969,130 kuna, a gain from 360,110 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 0.4% from 0.2% in the year-earlier period.

Total revenue grew 8.8% on an annual basis to 220.3 million kuna from 202.6 million kuna, and total operating expenses increased 7.9% on an annual basis to 220.8 million kuna from 204.6 million kuna.

Reported net income totaled 550,420 kuna, compared with a loss of 776,900 kuna, or a loss of 7.40 kuna per share, in the prior-year period.

As of April 28, US$1 was equivalent to 6.90 kuna.