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Wilbo Q1 profit falls YOY

Wilbo S.A. said its first-quarter normalized net income amounted to 24,380 zlotys, a decrease of 9.3% from 26,880 zlotys in the year-earlier period.

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

The normalized profit margin dropped to 0.3% from 0.3% in the year-earlier period.

Total revenue declined 7.4% on an annual basis to 9.1 million zlotys from 9.9 million zlotys, and total operating expenses fell 8.0% on an annual basis to 9.0 million zlotys from 9.8 million zlotys.

Reported net income fell 9.3% on an annual basis to 39,000 zlotys, or 0 groszy per share, from 43,000 zlotys, or 0 groszy per share.

As of May 7, US$1 was equivalent to 3.60 zlotys.