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Wawel Q1 profit climbs 25.8% YOY

Wawel SA said its normalized net income for the first quarter was 14.46 zlotys per share, a gain of 25.8% from 11.50 zlotys per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.7 million zlotys, an increase of 25.8% from 17.2 million zlotys in the prior-year period.

The normalized profit margin increased to 12.7% from 11.5% in the year-earlier period.

Total revenue increased 14.2% year over year to 170.5 million zlotys from 149.4 million zlotys, and total operating expenses rose 10.5% on an annual basis to 136.3 million zlotys from 123.3 million zlotys.

Reported net income rose 23.5% from the prior-year period to 27.9 million zlotys, or 18.59 zlotys per share, from 22.6 million zlotys, or 15.06 zlotys per share.

As of April 30, US$1 was equivalent to 3.60 zlotys.