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Albena AD Q1 loss widens 24.5% YOY

Albena AD said its first-quarter normalized net income came to a loss of 96 stotinki per share, compared with a loss of 77 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.0 million leva, compared with a loss of 3.2 million leva in the prior-year period.

The normalized profit margin fell to negative 99.7% from negative 78.4% in the year-earlier period.

Total revenue fell year over year to 4.0 million leva from 4.1 million leva, and total operating expenses increased 11.5% from the prior-year period to 9.7 million leva from 8.7 million leva.

Reported net income came to a loss of 6.4 million leva, or a loss of 1.55 leva per share, compared to a loss of 5.2 million leva, or a loss of 1.24 leva per share, in the prior-year period.

As of May 28, US$1 was equivalent to 1.79 leva.