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Bytom swings to profit in Q1

Bytom SA said its normalized net income for the first quarter amounted to 444,380 zlotys, compared with a loss of 585,630 zlotys in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.7% from negative 2.8% in the year-earlier period.

Total revenue rose 24.5% on an annual basis to 26.2 million zlotys from 21.0 million zlotys, and total operating expenses climbed 18.4% from the prior-year period to 25.8 million zlotys from 21.7 million zlotys.

Reported net income came to 509,000 zlotys, or 1 groszy per share, compared to a loss of 937,000 zlotys, or a loss of 1 groszy per share, in the prior-year period.

As of April 29, US$1 was equivalent to 3.60 zlotys.