SFD SA said its normalized net income for the first quarter came to 614,000 zlotys, an increase from 232,650 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 increased to 2.3% from 1.2% in the year-earlier period.

Total revenue climbed 41.2% year over year to 27.0 million zlotys from 19.1 million zlotys, and total operating expenses rose 39.6% on an annual basis to 26.0 million zlotys from 18.6 million zlotys.

Reported net income increased from the prior-year period to 768,020 zlotys, or 2 groszy per share, from 276,610 zlotys, or 1 groszy per share.

As of May 15, US$1 was equivalent to 3.54 zlotys.