Colian Holding SA said its normalized net income for the first quarter amounted to 7 groszy per share, an increase from 2 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 12.8 million zlotys, a gain from 3.1 million zlotys in the prior-year period.

The normalized profit margin increased to 5.8% from 1.5% in the year-earlier period.

Total revenue rose 10.4% on an annual basis to 222.7 million zlotys from 201.7 million zlotys, and total operating expenses increased 5.1% year over year to 201.1 million zlotys from 191.3 million zlotys.

Reported net income rose from the prior-year period to 16.6 million zlotys, or 9 groszy per share, from 5.4 million zlotys, or 4 groszy per share.

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