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Nama Q1 profit falls YOY

Nama d.d. said its first-quarter normalized net income amounted to 7 euro cents per share, a decrease of 48.1% from 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €70,110, a decrease of 48.1% from €135,050 in the prior-year period.

The normalized profit margin dropped to 2.6% from 5.0% in the year-earlier period.

Total revenue decreased year over year to €2.7 million from €2.7 million, and total operating expenses came to €2.6 million, compared with €2.6 million in the prior-year period.

Reported net income came to a loss of €107,170, or a loss of 11 cents per share, compared to a loss of €71,220, or a loss of 7 cents per share, in the year-earlier period.