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Sarantis Q1 profit falls YOY

Gr. Sarantis SA said its normalized net income for the first quarter was 5 euro cents per share, a decline of 5.9% from 5 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 €1.6 million, a decline of 5.8% from €1.7 million in the year-earlier period.

The normalized profit margin declined to 2.9% from 3.3% in the year-earlier period.

Total revenue grew 9.0% year over year to €55.4 million from €50.8 million, and total operating expenses climbed 8.3% from the prior-year period to €52.7 million from €48.6 million.

Reported net income decreased 8.8% on an annual basis to €1.7 million, or 5 cents per share, from €1.9 million, or 6 cents per share.