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Tisak Q1 loss widens 71.3% YOY

Tisak d.d. said its first-quarter normalized net income amounted to 7.7 million kuna, compared with a loss of 4.5 million kuna in the prior-year period.

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

The normalized profit margin fell to negative 1.3% from negative 0.8% in the year-earlier period.

Total revenue rose 5.0% on an annual basis to 606.3 million kuna from 577.5 million kuna, and total operating expenses increased 5.3% year over year to 609.6 million kuna from 579.0 million kuna.

Reported net income came to a loss of 13.2 million kuna, compared with a loss of 8.2 million kuna in the year-earlier period.

As of April 29, US$1 was equivalent to 6.55 kuna.