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AC SA Q1 profit climbs 11.9% YOY

AC SA said its first-quarter normalized net income amounted to 59 groszy per share, a gain of 11.4% from 53 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 5.7 million zlotys, a gain of 11.9% from 5.1 million zlotys in the prior-year period.

The normalized profit margin rose to 13.8% from 11.4% in the year-earlier period.

Total revenue declined 7.5% on an annual basis to 41.7 million zlotys from 45.1 million zlotys, and total operating expenses decreased 10.4% year over year to 33.2 million zlotys from 37.1 million zlotys.

Reported net income increased 9.7% year over year to 7.3 million zlotys, or 75 groszy per share, from 6.6 million zlotys, or 69 groszy per share.

As of May 8, US$1 was equivalent to 3.61 zlotys.