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Seko SA Q1 profit falls YOY

Seko SA said its first-quarter normalized net income came to 18 groszy per share, a decline of 13.0% from 21 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million zlotys, a decrease of 12.1% from 1.4 million zlotys in the year-earlier period.

The normalized profit margin declined to 3.5% from 4.4% in the year-earlier period.

Total revenue rose 13.8% year over year to 35.2 million zlotys from 30.9 million zlotys, and total operating expenses increased 16.8% on an annual basis to 33.5 million zlotys from 28.6 million zlotys.

Reported net income decreased 13.5% from the prior-year period to 1.5 million zlotys, or 23 groszy per share, from 1.8 million zlotys, or 27 groszy per share.

As of May 8, US$1 was equivalent to 3.61 zlotys.