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Prehrambeno Industrijski Kombinat Q1 loss widens YOY

Prehrambeno Industrijski Kombinat d.d. said its first-quarter normalized net income came to 909,270 kuna, compared with a loss of 248,040 kuna in the prior-year period.

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

The normalized profit margin declined to negative 3.0% from negative 0.7% in the year-earlier period.

Total revenue fell 15.2% on an annual basis to 30.7 million kuna from 36.2 million kuna, and total operating expenses declined 13.0% year over year to 31.8 million kuna from 36.5 million kuna.

Reported net income totaled a loss of 1.5 million kuna, compared with a loss of 396,860 kuna in the prior-year period.

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