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HUP-Zagreb Q1 loss narrows YOY

HUP-Zagreb d.d. said its normalized net income for the first quarter amounted to 3.1 million kuna, compared with a loss of 4.4 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 climbed to negative 8.6% from negative 11.2% in the year-earlier period.

Total revenue rose 9.6% year over year to 42.7 million kuna from 38.9 million kuna, and total operating expenses grew on an annual basis to 47.9 million kuna from 46.2 million kuna.

Reported net income totaled a loss of 6.0 million kuna, compared with a loss of 7.6 million kuna in the prior-year period.

As of April 29, US$1 was equivalent to 6.78 kuna.