AB Vilniaus degtine said its normalized net income for the first quarter was €189,420, a gain of 75.4% from €107,970 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.5% from 2.3% in the year-earlier period.

Total revenue rose 14.2% on an annual basis to €5.3 million from €4.7 million, and total operating expenses increased 11.5% on an annual basis to €5.0 million from €4.5 million.

Reported net income rose 82.2% from the prior-year period to €285,120, or 1 cent per share, from €156,500, or 1 cents per share.