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Zvijezda Q1 loss narrows YOY

Zvijezda d.d. said its normalized net income for the first quarter amounted to 1.6 million kuna, compared with a loss of 4.3 million kuna in the year-earlier period.

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

The normalized profit margin rose to negative 0.8% from negative 2.2% in the year-earlier period.

Total revenue grew on an annual basis to 199.6 million kuna from 194.9 million kuna, and total operating expenses came to 202.4 million kuna, compared with 203.1 million kuna in the year-earlier period.

Reported net income came to a loss of 4.5 million kuna, compared with a loss of 8.9 million kuna in the prior-year period.

As of April 30, US$1 was equivalent to 6.75 kuna.