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Internet Union Q1 profit falls YOY

Internet Union S.A. said its normalized net income for the first quarter amounted to 2 groszy per share, a decrease of 10.4% from 3 groszy per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 117,100 zlotys, a decline of 7.5% from 126,530 zlotys in the prior-year period.

The normalized profit margin declined to 7.6% from 9.5% in the year-earlier period.

Total revenue increased 16.3% year over year to 1.5 million zlotys from 1.3 million zlotys, and total operating expenses rose 20.8% from the prior-year period to 1.3 million zlotys from 1.1 million zlotys.

Reported net income fell year over year to 152,980 zlotys, or 3 groszy per share, from 158,600 zlotys, or 3 groszy per share.

As of May 16, US$1 was equivalent to 3.85 zlotys.