Ilirija d.d. said its normalized net income for the first quarter was 1.7 million kuna, a gain of 76.2% from 989,340 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 9.4% from 6.0% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to 17.6 million kuna from 16.5 million kuna, and total operating expenses totaled 14.6 million kuna, compared with 14.7 million kuna in the prior-year period.

Reported net income increased 85.3% on an annual basis to 2.6 million kuna, or 1.20 kuna per share, from 1.4 million kuna.

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