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Banking Essentials Newsletter: 17th April Edition

Auto-Spa Q1 profit climbs 70.3% YOY

Auto-Spa SA said its first-quarter normalized net income was 60,740 zlotys, a rise of 70.3% from 35,670 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 2.7% from 0.8% in the year-earlier period.

Total revenue fell 50.8% year over year to 2.2 million zlotys from 4.5 million zlotys, and total operating expenses fell 54.4% year over year to 1.8 million zlotys from 4.0 million zlotys.

Reported net income increased 8.6% from the prior-year period to 137,740 zlotys, or 1 groszy per share, from 126,860 zlotys, or 1 groszy per share.

As of May 16, US$1 was equivalent to 3.85 zlotys.