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Monnari Trade Q1 profit climbs 15.1% YOY

Monnari Trade SA said its normalized net income for the first quarter amounted to 8 groszy per share, an increase of 15.2% from 7 groszy per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.5 million zlotys, an increase of 15.1% from 2.2 million zlotys in the prior-year period.

The normalized profit margin fell to 4.8% from 5.0% in the year-earlier period.

Total revenue grew 20.2% year over year to 52.6 million zlotys from 43.8 million zlotys, and total operating expenses rose 19.7% from the prior-year period to 48.3 million zlotys from 40.4 million zlotys.

Reported net income rose 17.1% on an annual basis to 3.4 million zlotys, or 11 groszy per share, from 2.9 million zlotys, or 9 groszy per share.

As of May 11, US$1 was equivalent to 3.87 zlotys.